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Tags: glenn grothman | biden | student loan forgiveness

Rep. Grothman to Newsmax: Biden's Student Loan Plan 'Kick in the Teeth'

Rep. Glenn Grothman, R-Wis., speaks during a House Committee on Oversight and Reform hearing, June 8, 2022, in Washington, D.C. (Photo by Andrew Harnik-Pool/Getty Images)

By    |   Wednesday, 24 August 2022 12:51 PM EDT

President Joe Biden's plans to cancel at least $10,000 of student loan debt for millions of people is a "kick in the teeth" for taxpayers who already paid off their loan obligations, Rep. Glenn Grothman told Newsmax on Wednesday. 

"It's a kick in the teeth to everybody who paid off their student loan right because they aren't getting a break," Grothman, R-Wis., told "National Report." "It's a kick in the teeth to people who say, I don't want to go to a four-year college. Maybe I'm going to trade school or somewhere else. I'm going to become a plumber because the cost of groceries is going up. But you're getting no benefit from this forgiveness."

Biden, before his scheduled announcement Wednesday afternoon to speak about the student loan forgiveness plan, posted an outline of his plan on Twitter, saying that the plan would forgive $20,000 for people who went to school using Pell Grants and $10,000 for people who did not use Pell Grant funding.

The loan forgiveness plan would apply only to people making under $125,000 annually and allows for one more student loan payment pause to be extended through the end of this year. 

According to budget models, the loan forgiveness would result in more than $300 billion being lost from the government's coffers, and Grothman said he thinks the administration is counting on people losing sight of the difference between a million dollars, a billion dollars, or a trillion dollars. 

He added that Biden is counting on reaping a political benefit by forgiving student loans believing people will not connect the move with the higher prices they're paying for groceries and more. 

Meanwhile, he said he agrees with House Speaker Nancy Pelosi, D-Calif., who has been quoted as saying that the president does not have the power to forgive debts, but only to postpone payments because debt forgiveness "has to be an act of Congress."

"She's 100% right," Grothman said. "He's just power-mad. What you are doing is you are spending, over $300 billion without Congress appropriating it. In other words, you have a dictator here who doesn't care what Congress says, who doesn't care if Congress doesn't want to spend $300 billion."

Grothman said he assumes someone will file a lawsuit about the loan forgiveness plan, but courts move slowly and the forgiveness will be "built into the system."

"It's a very scary thing," Grothman said. "I don't think that he cares about our Constitution anymore … roughly about 40% of the American public over the age of 25 has a college degree, according to Pew Research. There are 60% of American people who don't. If this does go to the taxpayer, you can't imagine they're too happy to pay someone else's bills."

Grothman has introduced the Fairness for Responsible Borrowers Act, which he doesn't think Biden would sign even if Congress passes it.

"We do want to give fairness to the people who paid off their debts on their own, or the type of people who are wise enough not to go to a four-year college and learned how to become a plumber or learned how to become a truck driver," Grothman said.

"They didn't take out a student loan in the first place. It's unfair for them that their cost of groceries and their cost for housing is going to go up just because President Biden decided to benefit this certain population."

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President Joe Biden's plans to cancel at least $10,000 of student loan debt for millions of people is a "kick in the teeth" for taxpayers who already paid off their loan obligations, Rep. Glenn Grothman told Newsmax on Wednesday. 
glenn grothman, biden, student loan forgiveness
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2022-51-24
Wednesday, 24 August 2022 12:51 PM
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