Nearly 1.4 million borrowers in Texas would benefit from president's plan, which would...
WASHINGTON — The Senate on Thursday narrowly passed a resolution pushed by U.S. Sen. John Cornyn that would halt President Joe Biden's plan to forgive student loans for nearly 1.4 million borrowers in Texas.The Texas Republican called the roughly $400 billion plan unconstitutional and said it is unfair to taxpayers, the vast majority of whom do not have student loan debt.
Democratic U.S. Sens. Joe Manchin of West Virginia and Jon Tester of Montana and independent Sen. Kyrsten Sinema of Arizona joined all Republicans in passing the measure. The 52-46 vote sends the resolution, which already cleared the House, to the White House, where Biden has vowed to veto it. "Nearly 90 percent of the relief provided by the Department of Education would go to Americans earning less than $75,000 per
Biden's plan would waive at least $10,000 in debt for borrowers earning less than $125,000 per year. Those who attended college on Pell grants for low-income students would have $20,000 wiped from their balances under the plan.
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