Staff Reports
Heritage Action, the advocacy wing of the Heritage Foundation, is spearheading a campaign in opposition to President Joe Biden's latest proposal to eliminate student loans. Their stance? Protecting hardworking American taxpayers who are growing increasingly frustrated with what they see as the Biden administration using their money to bolster the president's declining approval ratings.
Conservative group launches messaging campaign against Biden student loan push https://t.co/SSwdOPLRed via @dcexaminer
— Fearless45 (@Fearless45Trump) May 2, 2024
Ryan Walker, Executive Vice President of Heritage Action, is adamant about supporting American taxpayers who are demanding that the Biden administration scrap its plans to make all Americans shoulder the debt of a select few. With over 10,000 comments gathered from concerned citizens regarding Biden's student loan proposal, Heritage Action aims to ensure these voices are heard before any further action is taken.
This pushback comes in the wake of Biden's previous attempt to cancel student loans being struck down by the Supreme Court on constitutional grounds, primarily due to its staggering price tag of at least $400 billion. Despite this setback, Biden persists in advocating for various loan cancellation and repayment reduction measures, which have faced legal challenges from 18 GOP-led states questioning their legality.
The latest proposal targets nearly 70% of all loan holders, particularly focusing on black and Latino borrowers. While the White House argues that this plan aims to address the disproportionate debt burden faced by these groups, Dr. Lindsey Burke, leading education expert at the Heritage Foundation, warns that the financial weight of unpaid debts would ultimately fall on the 87% of U.S. taxpayers who do not hold student loans.
Independent estimates from the Committee for a Responsible Federal Budget project that Biden's student loan initiatives could cost the nation anywhere from $870 billion to $1.4 trillion, surpassing all previous federal spending on higher education in U.S. history. This raises valid concerns about the burden placed on taxpayers to fund what critics view as a misguided policy.
Conservatives have also raised questions about whether participants in pro-Palestinian protests on college campuses could potentially benefit from loan cancellations. However, when pressed on this issue, Press Secretary Karine Jean-Pierre avoided direct response, instead emphasizing the president's commitment to relieving young people of student debt, while sidestepping the broader implications for taxpayers.
The Heritage Foundation and Heritage Action are leading the charge against Biden's student loan proposals, amplifying the concerns of ordinary Americans and highlighting the excessive burden these plans would place on taxpayers.
