Rather than prioritizing inflation raging for Americans and Main Street businesses, President Biden’s student loan giveaway puts the economy on the back burner once again, Ways and Means Republican Leader Rep. Kevin Brady (R-TX) said, delivering opening remarks before a Republican meeting titled “The Perils of President Biden’s Student Debt Forgiveness Plan.” Instead, President Biden should sit down with Republicans to work together on policies that will focus with precision on bringing down inflation, increasing energy made in America, and implementing tax policies that don’t raise taxes on families and small businesses, but permanently keep them low, 

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Rep. Brady’s full remarks as prepared for delivery appear below.

Good morning and welcome to this Republican Meeting on the Perils of Biden’s Student Debt Forgiveness Plan.

 

Thank you to our Oversight Subcommittee Ranking Member Tom Rice for hosting this meeting and thanks to all members here today.

 

This meeting highlights yet another Biden Administration policy that puts last the pressing issues facing Americans in what economy today.

 

Pursuing mass student loan forgiveness ignores the very problems most Americans are facing in what is proving to be a very cruel economy under the President.

 

And for many Americans, if you didn’t like working to pay off your student loan, wait until you’re forced to pay off someone else’s.

 

In a world where workers and families are getting crushed with inflation, where an average family is spending $6,000 more this year to pay for exactly what they bought the past year, this is an insult.

 

This is a giveaway to highly educated college grads that will make rising costs worse rather than address the cost of colleges and universities.

 

It has been reported that the Administration could act on this issue unilaterally in the coming weeks, obviously for political purposes.

 

As you all know, the Biden Administration has spent their way into an inflationary nightmare. 

 

They’ve enacted policies that make America less competitive and make it harder for us to achieve the economic growth we need to get our economy back on track.

 

In the middle of crushing Biden-flation, how could the President justify a student loan giveaway that overlooks Americans hurt most by inflation? Biden-Flation hits the poor and middle class and working women the hardest.

 

And worse, Biden’s student loan giveaway will do nothing to solve and make college more affordable. It will only further incentivize future debt.

 

Mass student loan forgiveness looks like nothing more than a desperate pre-election attempt to change the polls.

 

But the President can’t seem to read the room.

 

To improve his standing with the American people, he would need to do something that he has been unwilling to do since he took office.

 

He needs to change course and sit down with Republicans to work together on policies that will focus with precision on bringing down inflation, increasing energy made here in America, and implementing tax policies that don’t raise taxes on families and small businesses, but permanently keep them low.

 

Unfortunately, I doubt the President will do what needs to be done to turn this country around, especially as we face a looming recession.

 

Instead, he is likely to move forward with a mass student loan giveaway plan that will be incredibly costly. It is regressive, and will ultimately lead to higher, not lower, levels of student debt in the future.

 

Rather than prioritizing inflation raging for Americans and Main Street businesses, President Biden’s student loan giveaway puts the economy on the back burner once again.

 

That is why I am thankful that we are having this meeting today to discuss concerns with the cost of higher education and a potentially regressive plan for broad-based student debt forgiveness.

 

With that I’d like to turn things over to our Ranking Member of the Oversight Subcommittee, Tom Rice, to lead the rest of today’s conversation.