Rep. Barry Moore slams President Biden's new student loan scheme

Washington, D.C. — Today, Rep. Barry Moore (AL-02) voted in favor of H.J.Res.88, a Congressional Review Act (CRA) resolution to overturn President Biden’s reckless income-driven repayment (IDR) rule—known as “Savings on a Valuable Education (SAVE)” plan. Experts estimate that the SAVE scheme could leave taxpayers on the hook for as much as $559 billion, making it the costliest regulation in U.S. history.

Just this week, President Biden announced he would forgive another $4.8 billion in student debt. In 2022, then-Speaker Nancy Pelosi noted that President Biden "does not have the authority" to forgive student loans, saying it "takes an act of Congress."

“Biden's giveaway of billions in student loans and his most recent IDR rule force every taxpayer to bear the burden of loans they did not sign up for," said Moore. "He calls it forgiveness, but even those who had their loans paid will face the consequences of Biden's actions to the tune of a 17 percent inflation tax that will only rise if we continue his spending habits that have led us to $34 trillion in debt."

Click here to learn more about this legislation.

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