Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.J. Res. 45, which would block the Biden administration's debt transfer scheme and prevent any further extension of the student loan repayment pause. For Democrats, there is a specter looming over this debate, an incontrovertible truth that disproves all their supposed principles and contradicts all their virtue signaling. Student loan cancellation is regressive. Let me repeat that for the Progressive Caucus. Student loan cancellation is regressive. Two-thirds of this debt transfer plan would go to the top half of earners. It takes from those in the lower half and gives to the upper half. It redistributes wealth, but from the bottom of our socioeconomic ladder to the top. For example, the repayment pause has provided $65,000 in de facto loan cancellation for the average lawyer. This is a professional-class bailout. More specifically, it is a professional-class, graduate-degree holder bailout. Of the loans that will be disbursed in 2024, 70 percent will be borrowed for graduate school. Nearly 40 percent of those people will go on to make over $100,000 annually in their careers. Those are the data absent partisan spin provided directly from the Department of Education. The spin comes from the left when they use words like ``forgiveness.'' There is no such thing as forgiveness.…”