WASHINGTON – U.S. Senator John Cornyn (R-TX) released the following remarks after the Congressional Review Act resolution of disapproval he introduced with Senate Committee on Health, Education, Labor and Pensions Ranking Member Bill Cassidy (R-LA) and Senator Joni Ernst (R-IA) to overturn President Biden’s plan to ‘cancel’ student loan debt passed the Senate and is now headed to the President’s desk. Excerpts of Sen. Cornyn’s remarks are below, and video can be found here.

“Over the last few years, liberal activists have called on Democrats to cancel student debt, but those calls were largely ignored until President Biden came along and decided to try it on his own.”

“Last August, he announced he would cancel student loans for millions of borrowers.”

“President Biden expects every person without college debt to shoulder the cost for someone else. In total, his plan would cost taxpayers more than $400 billion, even though only 13% of Americans would reap the benefit.”

“It is fundamentally unfair to expect taxpayers with zero student debt to cover the cost of someone else’s degree.”

“The President does not have the authority to stick the taxpayers with this debt.”

“Our resolution would prevent the President from transferring the burden of student loans from willing borrowers to unwitting Americans. It would also end the pause on student loan payments, another renegade act by President Biden for which he has zero authority.”

“President Biden’s student loan socialism is unfair, and it’s irresponsible.”