Chairman Palmer Denounces Biden's Student Loan Bailout Plan

For Immediate Release

Media Contact:Kris Cook(202) 225-4921

Washington, D.C. – Following the announcement of the Biden Administration’s student loan debt bailout plan, Rep. Gary Palmer (AL-06), Chairman of the Republican Policy Committee, released the following statement: 

“The decision by the Biden Administration to write-off $300 billion of student loan debt this year will make the inflation crisis worse,” said Chairman Palmer. “This is an incredibly insensitive decision that almost entirely benefits higher wage earners who attended college at the expense of everyone else who either paid for their college educations or never attended college. This vote-buying scheme should further expose the fact that Democrats are not the least bit concerned that 61 percent of American households are now living paycheck-to-paycheck. Even Democrat economists like Larry Summers have warned that families all across America are struggling to make ends meet, including senior citizens and others on fixed incomes, and adding another $300 billion in federal spending this year will only make their situations worse.”

Chairman Palmer continued, “In addition to further increasing the financial burden on American families, this is nothing more than a raw abuse of power by the Biden Administration. Constitutionally, the power to appropriate money rests with Congress, not with the Executive branch. Consequently, this action should immediately be challenged in federal court.”