The White House announced that President Joe Biden would veto a Republican-led House measure that would halt the administration’s student loan forgiveness program.
In a Statement of Administration Policy released on May 22, the White House expressed its disapproval of H.J. Res. 45, which would disapprove the student loan forgiveness plan that would have provided up to $20,000 in relief to millions of student loan borrowers. If Congress were to pass H.J. Res. 45, the President would veto it,” the statement from the White House said. The administration asserts the measure would “weaken America’s middle class.”
In the policy statement, the administration outlined its justification for the student loan forgiveness program, saying: “Nearly 90 percent of the relief provided by the Department of Education would go to Americans earning less than $75,000 per year, and no relief would go to any individual or household in the top 5 percent of incomes.”…