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Biden vetoes bill to cancel student debt relief

President Joe Biden vetoed Wednesday a bill that would repeal his signature plan to forgive student loan debt for tens of millions of Americans, salvaging a key issue of his presidency that remains under siege at the Supreme Court. “I won’t back down on helping hardworking folks,” Biden said in a tweet that included a video of him rejecting the legislation. “That’s why I’m vetoing this bill.” The rejection marked the fifth veto of Biden presidency but this one might especially sting: Loan forgiveness was a significant campaign pledge for Biden, and all of his attempts to ease life for borrowers are under attack. Part of the debt ceiling deal Congress approved this month, for instance, strikes the pause on student loan payments that’s been in effect since the start of the pandemic. The bill Biden vetoed, which cleared both chambers of Congress largely along party lines, would have undone the president’s proposal from last fall that would erase up to $20,000 in student loan balances. Democrats said the bill had the potential to undo loan forgiveness for teachers, police officers and other public workers under a separate federal program as well. The Associated Press has the story:

Biden vetoes bill to cancel student debt relief

Newslooks- WASHINGTON (AP)

President Joe Biden on Wednesday vetoed legislation that would have canceled his plan to forgive student debt. The measure had been pushed by Republicans, but it garnered a handful of Democratic votes in the Senate as well.

“It is a shame for working families across the country that lawmakers continue to pursue this unprecedented attempt to deny critical relief to millions of their own constituents,” Biden said in a statement when announcing his veto.

Despite the veto, Biden’s plan still isn’t secure. The U.S. Supreme Court, which is dominated by a conservative majority, is reviewing a legal challenge that could eliminate the program. A decision is expected this summer.

If enacted, Biden’s plan would forgive up to $20,000 in federal student loan debt for borrowers making less than $125,000 per year.

Student loan payments were paused at the beginning of the COVID-19 pandemic. However, they will resume in August for anyone whose debt is not wiped out by Biden’s plan.

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