President Biden on Saturday again slammed Republicans who received small business relief loans during the COVID-19 pandemic, but now criticizes his actions to forgive hundreds of billions of dollars in student loan debt. increase.
At a Congressional Black Caucus event in Washington, DC, Biden said he would cancel $10,000 of federal student loan debt of up to $20,000 to certain borrowers earning less than $125,000 a year, as well as to Pell Grant recipients. We compared his administrative action to the Paycheck Protection Program (PPP). ) was established by the CARES Act, which passed Congress with bipartisan support during the Trump administration.
Several Republicans critical of Biden’s student loan distribution ran or were associated with small businesses that applied for and received PPP loans in 2020 and 2021, but have since been forgiven. it was done.
Biden said Saturday, “If you’re aware, I don’t want to hear a word from a member of Congress whose family got tens of thousands and millions of dollars in pandemic relief loan forgiveness.” The same people are criticizing. Please give me. Please come.”
House Republicans call out Biden’s ‘clown’ attack, comparing distribution of COVID loans to student debt
Rep. Marjorie Taylor Green, R-Ga., Matt Gaetz, R-Fla., Vern Buchanan, R-Fla., Markwayne Mullin, R-Okla., Kevin Hern, R-Okla., Mike Kelly, R -Penn.
The New York Times ran an article boasting that the White House had tried to portray Republicans as hypocrites, but admitted in its seventh paragraph that the comparison was “not quite equivalent.”
White House will be mercilessly shamed and slammed by GOP critics for Biden’s student loan distribution: ‘Hatch Act Violation?’
“PPP loans were effectively designed to be forgivable,” wrote The Times. “The federal government has provided them without the traditional screening criteria of business loans in order to quickly distribute funds to businesses that were struggling in the first few years of the coronavirus pandemic, with less than 500 employees. Nearly every company with employees qualified for low interest rates. Loans were allowed as long as the money was spent on permitted expenses.”
In a speech on Saturday, Mr. Biden lashed out at Republicans for criticizing him for the Inflation Reduction Act, a climate and healthcare bill that experts predict will do little to curb inflation.
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“I’m sick of Republicans saying we’re wasting a ton of money. Wait a minute, wait a minute,” Biden said, adding that the bill would reduce the federal deficit to $3,000 over the next decade. Claimed to cut $100 million.
“I know you’re being slammed by Republicans as a result, but let’s do it. If you have Pell grants for Americans under $125, $10,000 in student loans and $20,000. can afford to cancel,” he said.