Schumer Demands Biden To Bypass Congress And Take Executive Action To Close ‘Racial Wealth Gap’
Democrats are pressuring Joe Biden to single-handedly cancel student loan debt without any congressional action.
During a press conference, Senator Chuck Schumer (D-NY), Sen. Elizabeth Warren (D-MA), and Rep. Ayanna Pressley (D-MA) stressed the alleged economic benefits of continued pausing — and outright forgiveness — federal student loan payments.
Schumer demanded that President Biden extend the federal pause on debt payments, arguing that the Department of Education’s “suspension of payments and interest during the pandemic has provided essential relief to borrowers and their families during this economic and public health crisis.”
Schumer then explicitly called for Biden to wipe out thousands in student loans through executive fiat. He claimed that Biden can act on this without working with Congress.
The Democrat Senate leader claimed that forgiving student debt would alleviate financial challenges for black and Latinos. He failed to mention Asians, a group that defies the Democrat narrative that all minorities can’t get ahead due to racism.
“We are also continuing to call on President Biden to use his existing legal authority to cancel up to $50,000 of student debt,” said Schumer. “This pause has actually shown how important canceling student debt is to borrowers and to our economy… ten times over, canceling $50,000 in debt would be even more important and helpful to these folks who are borrowers, to get the economy going, and to deal with the racial inequality which student debt has exacerbated.”
“All President Biden has to do is flick his pen and sign it,” Schumer said. “Make America a happier, better, more prosperous place. We’re going to keep fighting until this happens.”
Biden has expressed the possibility of forgiving $10,000 for all borrowers, but not $50,000. Nevertheless, both scenarios will leech money from taxpayers nationwide.
“I understand the impact of debt, and it can be debilitating,” said the man holding the title of President during a February town hall. “I am prepared to write off the $10,000 debt but not fifty because I don’t think I have the authority to do it.”
Under authority ceded to Biden under the Higher Education Act, the White House believes that he is able to forgive $10,000 per individual federal student loan borrower through executive action.
Biden is allegedly collaborating with the Department of Justice to determine his legal authority to cancel loan payments.
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