Democrat handouts triggered by COVID pandemic
By Bob Unruh
The U.S. Supreme Court on Friday blocked Joe Biden’s scheme to stick taxpayers with the tab for some $400 billion in student loans.
Biden has wanted to “cancel” student loan debt amounts of $10,000 or $20,000, depending on circumstances, and have taxpayers pay up.
But the Supreme Court, on a 6-3 ruling, said no.
Fox Business said the justices found the law does not allow the secretary of education to follow through on Biden’s plan to cancel $430 billion in student loan debt.
“The secretary’s plan canceled roughly $430 billion of federal student loan balances, completely erasing the debts of 20 million borrowers and lowering the median amount owed by the other 23 million from $29,400 to $13,600,” Chief Justice John Roberts said. “Six state sued, arguing that the HEROES Act does not authorize the loan cancellation plan. We agree.”
The Biden strategy had been to inordinately benefit those who took out tens of thousands of dollars in student loans. He would have provided up to $10,000 in debt relief – and up to $20,000 for Pell Grant recipients – for people who make less than $125,000 a year.
But that cost would then have fallen on taxpayers, many of whom already had paid off their own loans, or didn’t take out such loans.
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