TEXAS (KETK) – The Biden Administration’s announcement to ‘cancel’ student loan debt has quickly become a polarizing topic across the nation and Texas is no exception.
Lawmakers here in the state of Texas have taken to various social media platforms to voice their opinion on Biden’s announcement.
U.S. Senator John Cornyn (R-TX) issued the following statement:
“The Biden Administration’s election-year stunt to force working class folk to pay off the debt of wealthy graduates is both indefensible and nonsensical. As inflation continues to drain the pockets of Americans, the disastrous policy would incentivize universities to raise tuition and unfairly punish those who sacrificed to pay off their own student loans.”John Cornyn United States Senator – Texas
His office further added background information to his statement. According to the Committee for Responsible Federal Budget, President Biden’s plan to cancel at least $10,000 in debt per borrower would cost American taxpayers an additional $230 billion to foot the bill. The Penn Wharton Budget Model estimates this cost to be even higher between $300 billion and $980 billion over the 10-year budget window.
U.S. Sen. Ted Cruz released the following statement:
“The highest concentration of student loan debt is held by people in Washington, DC. This administration’s policy is to force blue collar workers and American families across the country to pay off the cost of a Washington bureaucrat’s college degree – it’s morally bankrupt.
“This announcement is a gut punch to every hard working single mother who worked double shifts in order to pay for her own education, every parent who borrowed against their home to send their kid to college, Americans who sacrificed to make responsible financial decisions, and our nation’s veterans and service members who risked their lives to earn the G.I. Bill.
“Let’s be clear – there is no way to ‘cancel’ student debt. This will cost every taxpayer an average of $2,100. Someone will pay the price for this policy and the price is likely to be felt by every American in the form of even higher inflation. This administration is exceeding its legal authority and illegally burdening hard-working Americans with debts they didn’t take on themselves.”Ted Cruz United States Senator – Texas
“If you want free college, serve your country. 87% of Americans do not have federal student loans. Why should they be forced to pay the loans of the 13%?“Lance Gooden – US Congressman Texas
“87% of American adults don’t have student loans. They shouldn’t have to pay off yours. The broad forgiveness of student loans, without Congressional approval, is both immoral and illegal. They’re buying votes at this point”Dan Crenshaw – US House candidate, TX-02
“If I ran for President I’d pay off everyone’s house, car and boat. It’s just Monopoly money, right?”Jared Patterson – Texas State Representative HD 106
“Education is the great equalizer, but for many, taking out loans is the only way to attain a quality education. Student loans burden graduates w/ increasing debt in a workforce riddled w/ uncertainty & stagnated wages. Glad to see @potus keep his promise to #CancelStudentDebt.”Vincente Gonzalez – U.S. Congressman Texas
“@POTUS is forgiving up to $20,000 in student loan debt to support hard-working people, put money back in their pockets, and change the lives of as many as 43 million Americans! This is an important step to bolster and grow the middle class; I’m thrilled to see it!Veronica Escobar – U.S. House Representative the 16th Congressional District of Texas
These are just a few of the comments and statements U.S. lawmakers are making today.