Republican Missouri Sen. Eric Schmitt is demanding that Education Secretary Miguel Cardona explain what legal authority the Biden administration will use to justify its latest attempt to transfer student debt to taxpayers.
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The administration initially sought to transfer student loan debt under the 2003 HEROES Act, which gives the president limited authority to forgive certain loans during “a war or other military operation or national emergency.” According to an analysis by the Wharton School of Business, the proposal could have cost taxpayers more than $300 billion over a ten-year period.
The Supreme Court struck down the scheme in a June 30 decision, ruling that the law does not allow the executive branch to issue a mass forgiveness
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