Former President Donald Trump on Friday berated Joe Biden for the incumbent president's failed student loan forgiveness plan.
What Happened: Trump, while addressing the crowd at the Moms for Liberty Joyful Warriors National Summit in Philadelphia, called Biden “crooked” as he celebrated a favorable Supreme Court decision in Biden vs. Arkansas.
In his Philadelphia speech, he vehemently criticized Biden’s student loan forgiveness proposal, which aimed to forgive more than $10,000 for each federal loan borrower. “[It] would have been very unfair to the millions and millions of people who paid their debt through hard work and diligence,” Trump said. “Very unfair.”
“We have a corrupt president. Very corrupt,” Trump said, adding, “But this was a way of trying to buy votes.”
Biden’s student loan forgiveness plan aimed to cancel debt for borrowers earning less than $125,000 annually, with Pell Grant recipients eligible for up to $20,000 in forgiveness.
Why It Matters: The Supreme Court, earlier in the day, handed down a ruling declaring Biden’s student loan forgiveness plan as unconstitutional.
The top court majority opinion dealt a significant blow to team Biden, discrediting the notion that the HEROES Act would authorize loan forgiveness. “The Secretary's plan canceled roughly $430 billion of federal student loan balances, completely erasing the debts of 20 million borrowers and lowering the median amount owed by the other 23 million from $29,400 to $13,600,” Chief Justice John Roberts wrote for the 6-3 majority.
“Six States sued, arguing that the HEROES Act does not authorize the loan cancelation plan. We agree,” the justice said.
Read Next: Build Back Biden: POTUS Slips Up During DC Speech And Admits He's Going Off Script
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
