Biden vetoes invoice cancelling his $400 billion scholar mortgage handout, vows he is ‘not going to again down’

President Biden on Wednesday vetoed the invoice that may have scrapped his $400 billion scholar mortgage handout and vowed he wasn’t “going to again down” when it got here to forgiving the faculty debt of tens of millions throughout the nation.

“People, Republican in Congress led an effort to move a invoice blocking my administration’s plan to supply as much as $10,000 in scholar debt aid and as much as $20,000 for debtors that acquired a Pell Grant. Almost 90% of these aid {dollars} go to individuals making lower than $75,000 a yr,” Biden mentioned in a video posted on Twitter. 

“I am not going to again down on my efforts to assist tens of tens of millions of working and center class households. That is why I’ll veto this invoice,” he mentioned. 

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Amid his railing towards Republicans, Biden made no point out of the 2 Democratic senators, Joe Manchin, D-W.Va., and Jon Tester, D-Mont., who joined all Republicans in voting to advance the invoice final week. Impartial Arizona Sen. Kyrsten Sinema additionally voted in favor with the ultimate tally coming to 52-46.

Biden additionally made no point out of Rep. Jared Golden, D-Maine, and Rep. Marie Gluesenkamp Perez, D-Wash., who joined Republicans in voting for the invoice within the Home of Representatives. The ultimate Home vote tally was 218-203.

The president went on to say that a number of the members who voted for the invoice had “personally acquired loans to maintain their small enterprise afloat throughout the pandemic,” and supported “enormous tax cuts for companies and the rich.” 

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“However in terms of hardworking Individuals attempting to get forward, coping with scholar debt aid, that is the place they drew the road. I believe it is mistaken,” he mentioned.

“Let me make one thing actually clear, I am by no means going to apologize for serving to working and center class Individuals as they get well from this pandemic. By no means,” he added earlier than signing his veto of the invoice.

Biden’s veto of the invoice marks his fifth veto since taking workplace.

Below this system introduced final yr, Biden mentioned he would cancel as much as $10,000 in scholar loans for individuals making lower than $125,000, and as much as $20,000 for college kids who acquired Pell Grants. That program was anticipated to value the federal government greater than $400 billion in misplaced debt reimbursement, however this system was placed on maintain after a courtroom blocked it.

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The decision authorized by the Home and Senate was written underneath the Congressional Overview Act, which lets Congress reject an govt department coverage so long as each the Home and Senate move a decision disapproving of that coverage.

Given the largely partisan nature of the votes within the Home and Senate, it is unlikely Congress will have the ability to discover the two-thirds majority wanted in every chamber to override Biden’s veto.

Fox Information’ Peter Kasperowicz contributed to this report.

This text was initially revealed by foxnews.com. Learn the original article here.