The Wall Street Journal reports that the congressional Republicans' plan to stop President Joe Biden's student loan handout might receive some Democratic support.
The plan is being spearheaded by U.S. Sens. Bill Cassidy (R-LA), John Cornyn (R-TX), and Joni Ernst (R-IA).
Last August, Biden announced a plan to cancel a significant amount of federal student loan debt.
An eligible borrower, under Biden's plan, could receive up to $10,000 in loan forgiveness or up to $20,000 if the borrower is a Pell Grant recipient. For eligibility, a borrower must be making less than $125,000 per year if single or less than $250,000 per year if married.
Biden's plan - which is estimated to cost upwards of $400 billion - has faced significant pushback, including in the form of multiple legal challenges. The chief criticism regards Biden's attempt to implement this plan through executive action alone. Critics maintain that this is unconstitutional. Biden and his administration disagree.
The matter is now before the U.S. Supreme Court. In February, the high court heard arguments, and, now, the country is waiting for the justices' decision.
In the meantime, congressional Republicans are looking to take the matter out of the justice's hands: they are looking, themselves, to end Biden's student loan handout.
Recently, Cassidy, Cornyn, and Ernst introduced a resolution, under the Congressional Review Act, that would cancel Biden's student loan handout.
Cassidy, in introducing the resolution, said:
President Biden’s student loan scheme does not "forgive" debt. It just transfers the burden from those who willingly took out loans to those who never went to college or sacrificed to pay their loans off. This resolution prevents these Americans, whose debts look different from the favored group the Biden administration has selected, from picking up the bill for this irresponsible and unfair policy.
The Washington Examiner explains the significance of this resolution, writing:
The Congressional Review Act allows Congress, by a simple majority of both chambers, to overturn regulations enacted by executive branch agencies. However, a presidential signature is still required.
There is hope, now, that some Senate Democrats will team up with their Republican colleagues to pass the measure. After all, there are some Senate Democrats - including U.S. Sens. Sens. Joe Manchin (D-WV) and Catherine Cortez Masto (D-NV) - who have previously indicated that they are not on board with Biden's student loan handout.
That's the upside.
The downside is that Biden would almost certainly veto the legislation, and those who support it would not be able to override the veto.
The Supreme Court is expected to rule on Biden's student loan handout by June, at the latest.