“Biden Vows to Veto Senate Bill Blocking Student Loan Forgiveness, Setting Up Fifth Veto” – Fox News

Senate Votes to Block Student Loan Forgiveness Program, Sets Up Veto Battle with Biden Administration

In a highly contested vote on Thursday, the Senate passed a bill that would block President Biden’s student loan forgiveness program. The bill would prevent the cancellation of student loan debt for millions of borrowers who have been struggling to make payments for years. The move was met with fierce opposition from Democrats, who argue that canceling student loan debt is a critical step toward economic recovery.

The Senate vote ended in a 50-49 outcome, with one Republican senator absent due to illness. The vote fell along party lines, as Democrats unanimously opposed the bill and Republicans supporting it. Senator Joe Manchin from West Virginia was the only Democrat who voted in favor of the bill, joining forces with the Republicans.

Shortly after the vote, President Biden released a statement reaffirming his commitment to the student loan forgiveness program. The president called the Senate’s decision “disappointing” and vowed to veto the bill if it reached his desk.

“This vote is a disservice to the American people, especially those who are struggling with student loan debt,” President Biden wrote. “Canceling student loan debt is not only the right thing to do, but it is also essential to our economic recovery.”

The Senate bill marks the latest showdown between the Biden administration and congressional Republicans over student loan debt. Democrats have been pushing for some form of student loan forgiveness since the beginning of the pandemic, arguing that it would provide much-needed relief to millions of borrowers.

The student loan forgiveness program proposed by the Biden administration would cancel up to $50,000 in debt for individual borrowers. The plan would benefit an estimated 42 million Americans and would cost the government around $1 trillion.

While the Senate’s move to block the program is a setback for President Biden, the administration retains the power to implement the program through executive action. The battle over student loan forgiveness is likely to continue in the coming months and could become a defining issue in the 2022 midterm elections.