BREAKING: We filed suit in federal court in Kansas today, challenging the legality of the Biden Administration’s program of mass cancellation of student loan debt.
A #CatoCEF 🧵…
A #CatoCEF 🧵…
“Forcing taxpayers to pick up the tab for other people’s college loans is bad policy, but in the case of President Biden’s order, it is also illegal," said @CatoInstitute President and CEO Peter Goettler.
"Neither President Biden nor the Department of Education has the power to cancel student loans without congressional authorization...The Constitution does not give the federal government the power to fund, guarantee, or cancel student loans." - @CatoInstitute's Peter Goettler.
The Administration’s claim that its plan is legal under the HEROES Act—which was passed in 2003 to help Iraq war veterans—is utterly implausible and yet another illegitimate attempt by executive-branch officials to usurp Congress’s sole constitutional prerogative to make policy.
“Federal student loans...fuel rampant college price inflation, are a major burden on taxpayers, and do not have constitutional warrant to exist,” said @CatoCEF Director @NealMcCluskey.
"Cancelling them by executive fiat compounds all of these huge problems.”
"Cancelling them by executive fiat compounds all of these huge problems.”
Learn more about why the @CatoInstitute is suing the Biden Administration, and join the conversation with #CatoCEF… cato.org/news-releases/…
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