#shorts On 6/30/2023, a reporter asked, “a reporter asked, “isn’t the comparison between student loans and the Paycheck Protection Program a little bit strained, given that some of those federal student loans were given with the expectation that they would be paid back, and then the Paycheck Protection Program loans were given to employers with the expectation that those loans would be forgiven if they kept folks on payroll during a pandemic?
MR. RAMAMURTI: … all of the Republicans in Congress who are saying to us, “This debt relief program is unacceptable” could have also been saying, “Hey, take it easy on doing all this debt forgiveness.” … we never got a single bit of incoming from Republicans saying, “Slow down PPP forgiveness.” In fact, the incoming we got was people saying, “Do it faster. Make it easier for people to qualify for forgiveness.” So, yeah, we think that there is a real tension between that and the idea that if we’re going to try and give $10,000 to a nurse or a firefighter, that that somehow is unacceptable or crosses the line
On 6/30/2023, the Supreme Court put the final nail in the coffin and invalidated Biden’s student loan bailout program. Joe Biden unilaterally announced a massive forgiveness of student loans last August to buy the Gen Z-Millennial vote in the 2022 midterms. Biden canceled over $400 billion in student loans which turns out to be up to $10,000 in student debt for borrowers who earn $125,000 a year or less and up to $20,000 for recipients of Pell Grants. Six Republican state attorneys general sued Joe Biden and argued the student loan bailout violates the separation of powers. Separately, two borrowers who did not qualify for Joe Biden’s student loan forgiveness plan (Department of Education v Brown) sued to stop the program. The Supreme Court ruled 6-3 in Biden v Nebraska that Joe Biden’s student loan forgiveness was unlawful. The 8th US Circuit Court of Appeals in November extended a block on Joe Biden’s student loan bailout plan. The DOJ then asked the Supreme Court to lift the 8th Circuit Court’s block, which they refused to do. The Supreme Court ruled 6-3 that Joe Biden overstepped his authority.
other clips of this published longer video is here: https://youtu.be/44mh8SgAsd4
Q: student loans (expected to be paid back) differs from PPP loans (forgiven) A: Republicans …