What's Ahead 1. Fairness for Responsible Borrowers. 2. Reminder: August Town Halls. 3. Weekly Roundup. 4. My Contact Information.
1. Fairness for Responsible Borrowers.
2. Reminder: August Town Halls.
3. Weekly Roundup.
4. My Contact Information.
Fairness for Responsible Borrowers
While rising prices due to inflation are crushing American families, employees, and businesses, President Biden has said he will soon make a decision on whether or not to "forgive" outstanding federal student loan debt. This decision will affect more people than just those who currently hold the debt.
As our nation is already in a tumultuous time, the President canceling any or all student loan debt would intensify the many crises we face. If President Biden were to sign off on $10,000 per borrower in student loan forgiveness, the Committee for a Responsible Budget estimates the total cost will be $250 billion, and it is the American taxpayers, many of whom paid off their loans or never attended college, who will be picking up the tab. This comes after taxpayers have been stuck with a bill of $4.3 billion per month thanks to the President’s decision to extend the COVID-era freeze on federal student loan payments through August 31, 2022.
Further, while inflation weakens the dollar at a rate of 8.5 percent, a one-time injection of hundreds of billions of dollars would leave our economy in a worse position in the short and long-term. The economic consequences of widespread student loan forgiveness would further hinder small businesses and workers while they are stuck facing the brunt of a recession, historic inflation, and a worker shortage.
Aside from the economic implications of such a decision, this move would raise serious concerns over the President's authority, or lack thereof, to unilaterally cancel student loan debt.
President Biden has already shown that he has no reservations about issuing orders outside of the jurisdiction of the Executive Branch. For example, last year, the President issued an eviction moratorium to block landlords from evicting tenants due to COVID-19, but the order was struck down by the Supreme Court. Prior to the Court ruling, however, President Biden admitted “it was not likely to pass constitutional muster”.
Much like the eviction moratorium, President Biden would be skating on thin Constitutional ice by following through with widespread student loan forgiveness.
In response to the President's insistence to forgive loans, I introduced the Fairness for Responsible Borrowers Act to clarify that the Biden Administration and future administrations do not have the authority to unilaterally forgive student loans. If President Biden wishes to add even more to our national deficit to forgive federal student loan debt, he must come to a legislative agreement with Congress, as our Founding Fathers intended.
By moving to cancel student loan debt, the President would be sending a message to the world that America rewards financial irresponsibility. As an alternative to four-year university, I’ve long promoted apprenticeships and career and technical education, which offer job security, high income, and less debt. I strongly urge the White House to join me in emphasizing different educational paths to assist students in making the most responsible decision for a financially sound future.
Reminder: August Town Halls
As a reminder, I will be hosting four in-person town hall meetings this Tuesday and Wednesday to take questions, hear your feedback, and discuss the issues that are most important to the Sixth District.
I hope to see you there!
Tuesday, August 23
11 a.m. - 12 p.m.
710 Hickory Street
Sheboygan Falls, WI 53085
3 p.m. - 4 p.m.
Ozaukee County Fairgrounds, North Pavilion
W67N866 Washington Ave
Cedarburg, WI 53012
Wednesday, August 24
3 p.m. - 4 p.m.
Rosendale Village Hall
211 North Grant Street
Rosendale, WI 54974
5:30 p.m. – 6:30 p.m.
Scott Park, Large Pavilion
Scott Park Drive
Omro, WI 54963
Sonex Aircraft out of Oshkosh manufactures safe, small, and cost-effective airplanes for the recreational aviation community. Thanks for showing me the steps before take off!
Click the above image for more information
It was a pleasure to speak with the Sheboygan County Conservation Association this week in Sheboygan Falls about their efforts to protect and preserve Wisconsin’s beautiful natural environment.
Visiting the family-owned Specialty Enterprises in Wautoma to tour their sprayer boom manufacturing facility was a treat! Thank you for welcoming me.
I always have a wonderful time meeting with the Oshkosh Noon Kiwanis Club!
As your Congressman, I’m here to serve you. If you have any questions please don’t hesitate to reach out to my offices in Fond du Lac and Washington. If you enjoyed this newsletter be sure to forward it to your family and friends so they can stay informed on what I’m doing in Washington and the Sixth District.
You can also stay up-to-the-minute by following me on Facebook (Congressman Glenn Grothman), Twitter (@RepGrothman) and Instagram (@RepGlennGrothman).