GOP Sen. Tom Cotton wants to make sure people in debt play no part in shaping sweeping loan forgiveness plans.
“Every White House employee with student loans should be banned from working on Biden’s plan to transfer student loan debt to taxpayers,” Cotton wrote on Twitter Tuesday. “It’s a clear conflict of interest.”
President Joe Biden is getting closer take a decision on the student loan forgiveness that he will put in place. As Insider previously reported, the relief could likely come close to his $10,000 pardon campaign pledge, with the possibility of targeting the relief to those earning less than $125,000, which Biden considered during the campaign. election campaign. While Democrats want Biden to go as far as possible on relief, Cotton and some of his Republican colleagues to have slammed the idea.
For example, cottonwrote last month that “Biden wants to plunder the Treasury to bribe his progressive base to run in the midterm elections,” a sentiment also echoed by Utah Sen. Mitt Romney, who called canceling student debt a “bribe” to voters. Additionally, the House Education Committee’s top Republican, Virginia Foxx, has often said that canceling student debt would worsen inflation and cost taxpayers, referring to the $150 billionCost of the pandemic pause on payments.
Cotton’s argument about White House aid with student debt is the latest of the GOP attacks. A Bloomberg report last week revealed that at least 30 senior White House officials had student loan balances, according to financial information from the Office of Government Ethics. Collectively, according to Bloomberg, these assistants owe up to $4.7 million in debt, and more than half of them are borrowers of color.
And Biden himself mentioned he took on $280,000 in student debt to allow his children and grandchildren to go to college, but since taking office he has expressed hesitation about his ability to adopt broad relief. He asked the Departments of Education and Justice to review his legal ability to forgive much student debt, and Democratic lawmakers maintained that the authority was there and he should use it.
“The more President Biden cancels, the more we narrow the racial wealth gap between borrowers, and the more the economic future of Americans is boosted,” Massachusetts Sen. Elizabeth Warren said. mentioned in a report. “It’s the right thing to do.”