By Representative Mike Collins
June 23, 2023
(Views expressed by guest commentators may not reflect the views of OAN or its affiliates.)
On Wednesday, I addressed the American people from the House floor with the truth about the Biden administration’s egregious student loan forgiveness plan. Simply put, it is an affront to the dignity of the American taxpayer. Here’s why.
Our country cannot afford such a setback in the fight to reduce government spending. According to the Congressional Budget Office, this unauthorized handout will cost taxpayers an estimated $400 billion over the next 30 years.
The Biden administration wants to spend more of your hard-earned money after a year of trillions in deficits. Democrats state they are willing to talk about spending reductions, but only if it’s on their terms and if Congress’ hands stay off their pet programs.
A student loan bailout also sets a terrible precedent. By simply wiping away responsibility for borrowers and forcing taxpayers to pick up the bill, federal loan bailouts will become a common move for Democrat administrations with no sound economic policy to offer.
In a similarly absurd way, the Biden administration wants Americans with good credit to subsidize the mortgages of risky creditors. Both this program, and the student loan bailout, have been justified by the administration with typical ‘Diversity, Equity, and Inclusion’ nonsense. The White House’s so-called “fact sheet” claims student debt relief will “advance racial equity.” The future looks bleak for common sense and personal responsibility in Biden’s America.
This current administration doesn’t want the American people to consider the fiscal and moral hazard this plan poses; it also doesn’t want us to consider whether or not it possesses the legal authority to waive student debt, because it doesn’t.
This student loan bailout is about sidestepping Congress and expanding the power of unelected, unaccountable bureaucrats. This is because if the plan had to face the scrutiny of the House and Senate, it would most certainly fail.
In fact, it did fail and quite easily. A few weeks ago, the House passed a bipartisan resolution to block the administration’s student loan forgiveness plan from taking effect. Our colleagues in the Senate resoundingly agreed with us, sending it to President Biden’s desk. Where he then vetoed our resolution.
Sadly, common sense did not prevail as the House failed to garner enough votes to override this veto.
However, the law might still not be on the side of the executive branch. A pending Supreme Court case could put a wrench in this blatant attempt to abuse executive authority.
I hope the Supreme Court will strike down this egregious executive overreach when they release their decision in Nebraska v. Biden in the coming days or weeks.
Until then, the Republican House majority will continue to oppose this administration’s radical policies and fight for common sense principles and American values.
Michael Allen Collins Jr. (born July 2, 1967) is an American politician and businessman serving as the U.S. representative for Georgia’s 10th congressional district since 2023. He is a member of the Republican Party.