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.
I gotta say I’m feeling a little bit better about the election results. They’ve made it clear they don’t intend to do a single thing they talked about, and that it is, was, and always will be 100% about money. So I don’t think we really need to worry about WWIII, Gilead, mass deportations and arrests etc, because that would disrupt business and make the billionaires slightly - ever so slightly - less billionairish.
I believe they are going to raise prices and taxes exactly as they promised.