OKLAHOMA CITY, OK – Senator James Lankford (R-OK) today issued the following statement praising the Supreme Court decision overturning President Biden’s student loan debt relief program in Biden v. Nebraska:
“Cancelling student debt sounds easy, and everyone likes ‘free money,’ but it is actually not free, it is a bill that someone else has to pay. President Biden tried to give away almost half-a-trillion-dollars to a few while handing the bill to the rest of Americans who are already facing high inflation costs due to Biden’s out-of-control spending. Families who worked two jobs in college, or never attended college should not have to pay someone else’s student loan debt. The Supreme Court stated today what we already know is clear in the Constitution, Congress writes the laws and agencies can’t just rewrite them to fit a political agenda.”
Background
Lankford and Senator Marsha Blackburn (R-TN), and Minority Leader Mitch McConnell led more than 40 of their colleagues in an amicus brief urging that Biden’s decision to forgive federal student loan debt in these circumstances constitutes unprecedented executive overreach and defies the separation of powers between Congress and the President.
Lankford also introduced a Congressional Review Act (CRA) resolution to overturn President Biden’s student loan cancelation scheme, which would transfer up to $20,000 in student loan debt per borrower onto taxpayers, costing an estimated $400 billion.