Congress – – Biden Loan Forgiveness Plan May Be Illegal

Nearly 100 Republican members of Congress have called on House Speaker Nancy Pelosi to hold Joe Biden accountable for what they say is his “illegal $300 billion student loan giveaway.” Now, the Committee for a Responsible Federal Budget projects that cancelling up to $20,000 for some borrowers will cost taxpayers between $440 billion and $600 billion over the next ten years, with a central estimate of roughly $500 billion. Republican U.S. Reps. Jody Hice of Georgia and Elise Stefanik of New York led a coalition of 94 Republicans who sent a letter to Pelosi on Friday arguing the president’s plan is illegal.