Summary
Representative Glenn Grothman plans to introduce the “Protecting Taxpayers from Student Loan Bailouts Act,” aimed at blocking future large-scale student loan forgiveness by limiting regulations costing taxpayers over $100 million annually.
This follows a Supreme Court ruling in 2024 that struck down President Biden’s $430 billion loan forgiveness plan.
Republicans criticize forgiveness as inflationary and unfair, while Biden’s administration has canceled $180 billion in debt over four years.
With GOP control of Congress, future forgiveness efforts face significant challenges.
Y’all are missing the big lead: this stops ANY regulation that costs over $100m. Which is…a good chunk of them. Just monitoring can cost a huge chunk of cash.
What this is, is the GOP attempting to rip the heart out of specifically OSHA and the FDA.
Military? Surely that’s costing more than $100m annually?
Ssssh… If they notice they’ll carve out an exception.
It only affects the Department of Education.