Speaker of the House Nancy Pelosi is now limiting President Joe Biden’s power as president after she shot down Senator Chuck Schumer’s proposal to have Biden forgive student loan debt.
During a press conference on Tuesday alongside Sen. Elizabeth Warren (D-MA) and Rep. Ayanna Pressley (D-MA), Schumer called on Biden to pause and end federal student loan payments.
“We are also continuing to call on President Biden to use his existing legal authority to cancel up to $50,000 of student debt,” Schumer said. “This pause has actually shown how important canceling student debt is to borrowers and to our economy… ten times over, canceling $50,000 in debt would be even more important and helpful to these folks who are borrowers, to get the economy going, and to deal with the racial inequality which student debt has exacerbated.”
“All President Biden has to do is flick his pen and sign it,” Schumer continued. “Make America a happier, better, more prosperous place. We’re going to keep fighting until this happens.”…(Read more)