Republicans Introducing Bill to Stop Biden From Canceling Student Loan Debt

Republicans are introducing a bill aimed at stopping President Joe Biden from canceling student loan debt.

The legislation, called the Stop Reckless Student Loan Action Act of 2022, states that the executive branch "abused" its authority to pause student loan payments during the COVID-19 pandemic. If passed, it would limit how long the administration can pause payments and add congressional oversight to the process.

"As Americans continue to return to the workforce more than two years since the pandemic began, it is time for borrowers to resume repayment of student debt obligation," Sen. John Thune, R-S.D., and one of the bill's authors, said in a statement.

"Taxpayers and working families should not be responsible for continuing to bear the costs associated with this suspension of repayment."

"This common-sense legislation would protect taxpayers and prevent President Biden from suspending federal student loan repayments in perpetuity," Thune added.

Biden during his presidential campaign expressed support for forgiving at least $10,000 in student loans per person.

This week during a meeting with some House Democrats, he expressed openness to forgiving that debt, but stopped short of a guarantee.

"He basically said: You're going to be happy with what I do about student loan debt relief," an aide told NBC News.

Senate Majority Leader Chuck Schumer, D-N.Y., on Wednesday said Congress was "getting closer and closer and closer on student loans."

"I've been working relentlessly on the president and his staff, and they seem more open to it now than ever before," he said. "There's nothing done yet, but I am really hopeful that the goal that we have had, $50,000 of student loans canceled, is getting more and more likely."

Sen. Mike Braun, R-Ind., told NBC he opposes student debt forgiveness out of fear it would add to the national debt. He said it would also benefit families who can afford to pay down the loans.

"I'm going to be very hesitant about forgiving debt in the sense that it looks like most of it would be forgiven to families that can afford to pay it," Braun said. "And I think it's symptomatic of so many things around here where we borrow the money, spend it on host of things and then worry about how heavy a load it is down the road."

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