President Joe Biden has vetoed a bill aimed at ending his student loan forgiveness plan, asserting his commitment to supporting working-class families. In a video posted on Twitter, Biden addressed the Republican-led effort to block his administration’s $400 billion program, which would provide up to $10,000 in student debt relief, with additional assistance of up to $20,000 for borrowers who received a Pell Grant. Notably, almost 90% of these relief funds would benefit individuals earning less than $75,000 annually.
“I’m not going to back down on my efforts to help tens of millions of working and middle-class families. That’s why I’m going to veto this bill,” President Biden emphasized. He further highlighted the contradiction of certain lawmakers who had sought personal loans to sustain their small businesses during the pandemic and advocated for tax cuts favoring corporations and affluent individuals but opposed student debt relief.
Biden expressed his unwavering commitment to assisting working and middle-class Americans in their recovery from the pandemic, particularly when it comes to addressing the issue of student loan debt. He firmly stated, “I’m never going to apologize for helping working and middle-class Americans as they recover from this pandemic.”
Last year, President Biden initially outlined his plan to eliminate student loan debt of up to $10,000 for individuals earning under $125,000, along with up to $20,000 for Pell Grant recipients. However, the program faced a temporary halt due to a court injunction after its announcement.
Congressional Republicans led an effort to pass a bill blocking my Administration’s plan to provide up to $20,000 in student debt relief to working and middle class Americans.
I won’t back down on helping hardworking folks.
That’s why I’m vetoing this bill. pic.twitter.com/ZeYEm4LOjz
— President Biden (@POTUS) June 7, 2023