"This administration is exceeding its legal authority and illegally burdening hard-working Americans with debts they didn’t take on themselves.”
WASHINGTON, D.C. (Texas Insider Report) — “This announcement is a gut punch to every hard working single mother who worked double shifts in order to pay for her own education, to every parent who borrowed against their home to send their kid to college, and to every American who sacrificed to make responsible financial decisions, and to our nation’s Veterans & Service Members who risked their lives to earn the G.I. Bill," Sen. Ted Cruz earlier today in response to the Biden White House’s announcement that they will be rolling out a Student Loan Debt Forgiveness Plan beginning in January 2023.
“Let’s be clear - there is no way to ‘cancel’ student debt. This will cost every American taxpayer an average of $2,100.
“The highest concentration of student loan debt is held by people in Washington, DC. This administration’s policy is to force blue collar workers – and American families across the country – to pay off the cost of a Washington bureaucrat’s college degree – it’s morally bankrupt.
"Someone will pay the price for this policy and the price is likely to be felt by every American in the former of even higher inflation. This administration is exceeding its legal authority and illegally burdening hard-working Americans with debts they didn’t take on themselves,” said Cruz.