Well, I would just ask the gentleman, we have outlined what some would think would be quite a crisis. If you look at this chart, something happened in 2001: we passed all of those tax cuts. I would just ask the gentleman from South Carolina (Mr. Spratt) if this administration or the majority in Congress has ever expressed any acknowledgment that there is a problem.
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Codifying this new system without assessing its effectiveness just doesn’t make any sense.
Will actually contribute to the creation of miles of bureaucratic red tape, inconsistent education policy and enforcement across the federal government and a significant waste of the taxpayers’ money.
Treasury has no expertise serving students or institutions of higher education or monitoring servicers for accuracy.
The repeal represents the federal government walking away from that responsibility, which jeopardizes the hard-fought progress we have made.
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