President Joe Biden's student loan bailout is a "blatant violation of the Constitution," said Idaho Gov. Brad Little, a Republican.
"It's unfair to people that didn't borrow, and it's even more unfair to the people that made an extra effort to pay their loans off early," he said Saturday on Newsmax's "American Agenda."
"For me, the final part of it is the message that if you make a commitment to borrow money and pay it back, that all of a sudden, it's wiped out. I think that sends a bad message to current people, to future students, 'Borrow the money; Uncle Sam will bail you out.' It's the cost; it's how unfair it is; and it's the message," he said.
Little joined 21 governors in signing a letter to Biden opposing his plan to forgive a portion of student loan debt, saying it will encourage more student borrowing, exacerbate inflation and incentivize higher tuition rates.
"Only 16-17 percent of Americans have federal student loan debt, and yet, your plan will require their debts be redistributed and paid by the vast majority of taxpayers," the letter states.
Biden's plan will forgive up to $10,000 in student loan debt for individuals with an income of less than $125,000 and $250,000 for households. The amount goes up to $20,000 for borrowers who received Pell grants as students.
The governors say the plan shifts the burden of debt from the wealthiest Americans with a "regressive impact that harms lower income families."
"Simply put, your plan rewards the rich and punishes the poor," the letter said.
Little also told Newsmax Biden's comments at the "United We Stand" summit is "putting fuel to the fire."
Biden called on Americans to speak out against racism and extremism during the event at the White House Thursday and said he would ask Congress to do more to hold social media companies accountable for spreading hate.
"White supremacists will not have the last word," Biden said.
Little said Biden "is trying to capture a few things that a few people do and blow it up primarily between now and the November election," he said.
About NEWSMAX TV:
NEWSMAX is the fastest-growing cable news channel in America!
© 2023 Newsmax. All rights reserved.