President Biden on Wednesday vetoed a bill that would have ended his $400 billion student loan handout and vowed he won’t “back down” when it comes to forgiving the college debt of millions across the country.
“Folks, Republicans in Congress have led the effort to pass a bill that blocks my administration’s plan to provide up to $10,000 in student loan relief and up to $20,000 for Pell Grant borrowers . Almost 90% of those relief dollars go to people making less than $75,000 a year,” Biden said in a video posted on Twitter.
“I will not back down from my efforts to help tens of millions of working and middle-class families. That is why I will veto this bill,” he said.
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Amid his rant against Republicans, Biden did not mention the two Democratic senators, Joe Manchin, DW.Va., and Jon Tester, D-Mont., who joined all Republicans in voting to advance the bill. last week. Independent Arizona Sen. Kyrsten Sinema also voted in favor with the final tally reaching 52-46.
Biden also did not mention Rep. Jared Golden, D-Maine, and Rep. Marie Gluesenkamp Perez, D-Wash., who joined Republicans in voting for the bill in the House of Representatives. The final House vote tally was 218-203.
The president went on to say that some of the members who voted for the bill “personally received loans to keep their small businesses afloat during the pandemic,” and supported “huge tax cuts for corporations and rich.”
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President Joe Biden speaks before vetoing a bill repealing his $400 billion student loan handout June 7, 2023 in the Oval Office. (white house)
“But when it comes to hard-working Americans trying to get ahead, dealing with student loan relief, that’s where they draw the line. I think it’s wrong,” he said.
“Let me make one thing absolutely clear, I will never apologize for helping working and middle-class Americans as they recover from this pandemic. Never,” he added before signing his veto. of the bill.
Biden’s veto of the bill marked his fifth veto since taking office.
Under the program announced last year, Biden said he would cancel up to $10,000 in student loans for people making less than $125,000, and up to $20,000 for students who received Pell Grants . That program is expected to cost the government more than $400 billion in lost debt payments, but the program hold on hold after it was blocked by the court.
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The US Capitol building in Washington, DC (Fox News Photo/Joshua Comins)
The resolution approved by the House and Senate was written under the Congressional Review Act, which allows Congress to reject an executive branch policy as long as the House and Senate pass a resolution disapproving of that policy. .
Given the largely partisan nature of the House and Senate votes, Congress is unlikely to find the two-thirds majority needed in each chamber to override Biden’s veto.
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Peter Kasperowicz of Fox News contributed to this report.
