Senate Votes To Scuttle Biden Student Loan Forgiveness

The Senate approved legislation this week that would repeal President Joe Biden's student loan forgiveness plan.

The original plan from Biden would forgive up to $20,000 in federally held student loans for tens of millions of borrowers making less than $125,000 per year.

"The Senate approved a motion to proceed to a final vote on House Joint Resolution 45 on a 51-46 bipartisan vote," reported the Washington Examiner.

Moderate Democrat Senators Joe Manchin of West Virginia, Jon Tester of Montana and Independent Kyrsten Sinema of Arizona voted with Republicans to advance the bill as well.

Manchin said he supported the resolution because "we simply cannot afford to add another $400 billion to the national debt."

"There are already more than 50 existing student loan repayment and forgiveness programs aimed at attracting individuals to vital service jobs, such as teachers, health care workers, and public servants," Manchin said.

"This Biden proposal undermines these programs and forces hard-working taxpayers who already paid off their loans or did not go to college to shoulder the cost," Manchin added. "Instead, we should be focusing on bipartisan student debt reforms that reduce the cost of higher education and help all Americans."

Biden has promised that when the bill reaches his desk, he will veto it.

"Republicans had attempted to include a repeal of the cancellation effort in negotiations to raise the debt ceiling, but a deal struck last week by House Speaker Kevin McCarthy (R-CA) and Biden keeps the plan intact. However, the deal does require the administration to restart loan payments within 60 days of the bill's passage," reported the Examiner.