WASHINGTON, D.C. — Rep. Mike Gallagher (R-WI) today released the following statement in response to President Biden’s unconstitutional and reckless student loan scheme.
“The President does not have the authority to unilaterally cancel student debt. Even the Department of Education and Speaker Pelosi have said as much. But once again, President Biden is choosing to sidestep Congress to pursue an unconstitutional campaign gimmick that disproportionately benefits the affluent, drives up the cost of education, pours fuel on the inflation fire, and leaves hardworking Americans to foot the bill. What a grotesque example of executive overreach and a massive slap in the face to any student who worked to pay off their debt, any parent who saved to pay for their kids’ educations, or anyone who enrolled in the Armed Forces or chose a more affordable school to avoid taking on debt.”
Rep. Gallagher previously introduced the Student Loan Accountability Act, which prohibits the Biden Administration from canceling student loan debt on a mass scale. Additionally, this bill prevents forgiven loans from being tax-exempt and blocks the Internal Revenue Service from sharing American’s tax data for the purpose of implementing mass loan cancellation.