Washington: House Republicans passed a resolution on Wednesday that would overturn President Joe Biden’s student loan cancellation plan, but the White House has vowed to veto it and the plan remains on hold as the Supreme Court considers its fate.
It adds to the GOP’s ongoing attack on Biden’s one-time student loan cancellation, which was halted in November in response to lawsuits from conservative opponents. The Supreme Court is now weighing the plan after hearing arguments in February. A decision is expected in the coming weeks.
Biden’s plan would cancel up to $20,000 in federal student loans for 43 million Americans.
The latest Republican challenge employs the Congressional Review Act, which allows Congress to undo recently enacted executive branch regulations. Passing a resolution requires a simple majority in both chambers, but overriding a presidential veto requires two-thirds majorities in the House and Senate.
The vote was 218-203, with two Democrats, Rep. Jared Golden of Maine and Rep. Marie Gluesenkamp Perez of Washington state, supporting it.
The debt cancellation is based on “decades-old authority granted by Congress” to protect borrowers from the impact of national emergencies, according to a statement from the Office of Management and Budget.