(ConservativeFreePress.com) – Senate Republicans failed to block President Biden’s income-driven repayment student loan plan (IDR) with their resolution.
In a 49-50 vote, all Republicans, joined by Democratic Sen. Joe Manchin (W.Va.) voted in favor of the Congressional Review Act (CRA) resolution which would block the Saving on Valuable Education (SAVE) IDR plan which was first instituted in the fall. The CRA means that only 50 votes are required in order for a resolution to be passed, rather than needing to meet the 60-vote filibuster.
Senate Health, Education, Labor and Pensions (HELP) Committee ranking member Sen. Bill Cassidy (R-La.) stated that the plan Biden has put through was both “irresponsible” and “unfair.”
The SAVE plan has two different parts. First, borrowers are going to see an increase in income exemption from 150 to 225 percent for student loan payments above the poverty guidelines. There would also not be any growth in borrowers’ unpaid interest.
Next year, there will also be additional benefits introduced, including monthly payments that will be reduced from 10 percent to 5 percent of discretionary income.
Republicans have pointed out that this plan would cost taxpayers around $559 billion and even people who never went to college or have already made all the payments for their student loans will be required to pay the bill for others.
Previously, opposition in the House and Senate had been able to use CRA measures against the student relief program proposed by Biden which was later struck down by the Supreme Court.
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