John Cornyn: “yesterday, I highlighted some of President Biden's final actions as he leaves--parting gifts, if you will. Today, I…”

“yesterday, I highlighted some of President Biden's final actions as he leaves--parting gifts, if you will. Today, I would like to highlight another of his parting gifts. And I use that in parentheses or with quotations because they really are a slap in the face for the American people and American taxpayers. This past Monday, the Department of Education canceled student loans for 150,000 borrowers. This is not really a cancellation of those loans. It is just a transfer of the responsibility to taxpayers and wiping the slate clean for people who actually agreed to borrow this money so that they can attend schools. Then on Wednesday, just 2 days ago, the Biden administration announced an additional cancellation of $4.5 billion for 261,000 borrowers. The President's actions this week and the last week of his Presidency brings this total taxpayer bailout to $183.6 billion. Now, remember in June of 2023, the Supreme Court ruled in a 6-to-3 decision that the Department of Education lacks the authority--the legal authority--to implement these across-the-board student loan cancellations. But the Biden administration, never to be one that actually obeys the law, has continued to ignore the ruling of the Supreme Court, issuing blank check after blank check to borrowers to let them off the hook from paying bills that they agreed to pay in the first instance. This policy is not just illegal; it is profoundly unfair.…”