Gosar Votes To Stop Biden’s Illegal Student Loan Bailout
Washington, May 24, 2023
WASHINGTON, D.C. - U.S. Representative Paul A. Gosar, D.D.S. (AZ-09) issued thefollowing statement in response to voting in favor of H.J. Res. 45, legislation terminating Joe Biden’s illegal and unconstitutional effort to use federal tax payer money to give to students who refuse to pay their student loans.
“The real problem here is the high cost of higher education. Students should not have to borrow $50,000 or more to get a college degree. The fault lies squarely with the universities in this country who have been price gouging students because of student loans.
Bailing out the loans simply encourages universities to raise their rates more instead of looking at real market conditions. If there were no student loans, universities would have to price their credit hours realistically. Until universities lower their lavish faculty and administrative salaries and benefits, there will be no student loan reforms.
As for Mr. Biden, his effort to high-grade tax money without Congressional approval is unconstitutional and illegal. His effort here was pure political pandering to this demographic,” concluded Congressman Gosar.
House Republicans are protecting hard working Americans with H.J. Res. 45, which uses the Congressional Review Act to overturn the Biden Administration’s student loan scam. Last year, Biden’s Department of Education abused the authorities granted under the COVID-19 national emergency declaration to issue a rule to cancel some federal student loan debt, which would cost American taxpayers hundreds of billions of dollars. Biden’s student loan scam would place a burden on the 100 million Americans who never went to college, while transferring wealth to those who willingly took on, and have yet to pay off, their debt. This vote is a nail in the coffin of Biden’s fake campaign promise for a student loan bailout that was never intended to succeed and ended when H.J.Res.7, legislation introduced by Representative Gosar terminating the COVID-19 emergency declaration, was signed into law by Mr. Biden on April 10, 2023.
A Congressional Budget Office (CBO) estimate sets the price tag for the debt cancellation at $570.5 billion. This amounts to a cost per taxpayer of $3,526.