Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) today spoke on Republican legislation to deny student loan debt relief for millions of Americans. Below are Senator Schumer’s remarks, which can also be viewed here:
Yesterday, Republicans introduced legislation that would end the pause on payments and overturn President Biden's historic student loan debt relief program, denying the millions of Americans with student debt the critical relief they need.
Republicans talk a big game about helping working families, but they are once again showing how callous and uncaring they are by blocking that relief that would immediately improve the lives of millions of families burdened with student debt.
Republicans call President Biden’s plan a “giveaway to high earners.” That’s just false. That’s just malicious. That’s just nasty.
Under President Biden’s plan, nearly 90% of relief dollars would go to out-of-school borrowers making less than $75,00.
Republicans, look at the facts! Let me repeat it: Under President Biden’s plan, nearly 90% of debt relief dollars would go to out-of-school borrowers making less than $75,00 a year.
Under President Biden’s plan, no one in the top 5% of incomes will receive a penny in debt relief.
President Biden’s plan is not a giveaway to high earners. In fact, it’s a lot of very, very wealthy people who never want to see the government help anybody except themselves who seem to push this idea of getting rid of the President’s plan. President Biden’s plan is a ladder up to the middle class for millions of Americans who need it most.
Rather than help the privileged few, the Biden plan would benefit students of color, poor Americans, children of immigrants, and working and middle-class families across the country. These are the Americans that bear the brunt of the student debt crisis. They are the ones hurt by Republican legislation.