Rep. Kevin Hahn (R-Okla.) on Wednesday called on Republicans to look at President Joe Biden’s renewed push to shift student loan debt to American taxpayers.
Hahn, chairman of the Republican Study Committee (RSC), the largest conservative bloc in Congress, said Wednesday that Biden’s latest “extreme, costly, unfair and potentially illegal ‘cancel’ plan” RSC members were asked to provide a detailed breakdown. A clear analysis of “Student Loan Borrower Debt” and the “Conservative Position” on this issue.
Oklahoma congressman slams Biden’s plan for what it is. It is a hugely expensive and irresponsible vote-buying scheme.
“This debt transfer program does nothing to reduce the cost of college education, it simply shifts the burden onto American taxpayers,” Hahn told Breitbart News. “This is a really big issue for conservatives, for taxpayers of all ideologies.”
This memo clearly summarizes Biden’s intentions and their consequences. “Simply put, the Biden administration is trying to buy votes in a historically important election year, but to do so it will require the government to borrow money, further exacerbating inflation.” Taxpayers Eventually, they will be forced to repay this increased debt. ”
Hahn’s RSC memo, which Breitbart received in advance of its release, can be read below.
Republican Study Committee Memo on Biden Student Loan Relief by Breitbart News On Scribd
In his memo, Hahn details the extraordinary cost of the Biden plan, which the Committee for a Responsible Federal Budget estimates at between $250 billion and $750 billion. He argues that Biden will make runaway inflation even worse by forcing the federal government to borrow money.
“The Biden administration is doing everything in its power to make life more expensive and difficult for hard-working families,” Hahn told Breitbart, adding that the plan would cost millions of dollars that would have to be paid for by taxpayers. It rightly called it a “slap in the face” to responsible borrowers. A newly “written off” debt.
Hahn also explains how Biden’s plan is grossly regressive. According to the notes:
Many of the economic benefits will go to those in the upper half of the income spectrum. In particular, graduate students, including those enrolled in or completing programs in lucrative fields such as medicine and law, would benefit disproportionately because they owe about half of all outstanding student loan debt.
Hahn said Biden’s massive debt cancellation plan would not only drive up the cost of higher education and delay needed reforms, it would also “incentivize future student loan borrowers to take on more debt in hopes of receiving loan forgiveness.” claims.
Biden began rolling out a student loan “cancellation” program in October 2022, some of which has been ruled unconstitutional. Hahn breaks down the steps the president has taken in what he calls Biden’s plan to “buy votes in a historically important election year.” In that case, the government would have to borrow money, which would further exacerbate inflation. ”
The document makes a convincing case for Republicans to focus on mass student loan transfers and combat Mr. Biden’s misuse of the issue in an election year.
“Republicans must remain vigilant and stand united against these reckless, costly, unfair, and potentially illegal actions by the Biden administration,” the memo concludes.
Watch — Biden tells reporters after student loan plan blocked by SCOTUS: “I’m not giving you any false hope!”
White House
Bradley Jay is Breitbart News’ Capitol Hill correspondent. Follow him on X/Twitter. @BradleyAJay.
