Summary
Representative Glenn Grothman plans to introduce the “Protecting Taxpayers from Student Loan Bailouts Act,” aimed at blocking future large-scale student loan forgiveness by limiting regulations costing taxpayers over $100 million annually.
This follows a Supreme Court ruling in 2024 that struck down President Biden’s $430 billion loan forgiveness plan.
Republicans criticize forgiveness as inflationary and unfair, while Biden’s administration has canceled $180 billion in debt over four years.
With GOP control of Congress, future forgiveness efforts face significant challenges.
The GOP really hates the working class.
Crazy how we’ve never had a “Protecting Taxpayers from Auto Industry Bailouts Act”, or banking industry, or PPP loans, or oil subsidies, or industrial farming subsidies, or military contracts, or pharma R&D grants, or…
Also: Why would taxpayers need to “pay for it” anyway?
We print money for literally everything else in this list, but when it comes to student loan forgiveness putting more money in the hands of ordinary people, now we gotta figure out a tax plan to get that money back out?
I’ve got an idea: How about we tax the folks that tend to end up with that extra money anyway? The ultra wealthy!
Are y’all enjoying your cheap eggs yet? /s
The Safeway app says that eggs “may be unavailable”. Not being able to buy them is kind of like them being cheap…
You’re definitely spending less on them.
Remember all these rich assholes having their PPP loans forgiven? Oh yeah, I guess nobody does.
Fine, if they want to play these games then let’s play. Student debt is over $1.6 trillion. If I stopped making payments individually, the ~$40k I borrowed is my problem. If all of us stop paying, it’s the government’s problem.
