BREAKING: Senate votes to repeal student loan plan, setting up Biden veto.
The bill, House Joint Resolution 45, invokes the Congressional Review Act to undo the president's plan to cancel $10,000 in federal student loan debt for borrowers making less than $125,000 per year, or $20,000 if the borrower also received a Pell Grant.The measure, which cleared the upper chamber of Congress on a 52-46 vote, previously passed the House of Representatives last week and is now headed to Biden's desk.
Republicans had tried to include a repeal of the student loan cancellation in a debt ceiling increase, but a deal struck with the White House last week did not eliminate the plan to forgive student loans. The debt ceiling increase bill passed the House Wednesday night and is expected to clear the Senate in the coming days.But while the Congressional Review Act resolution is doomed with the veto pen, the fate of the president's signature policy is far less certain.
In February, the U.S. Supreme Court heard oral arguments in two cases challenging the legality of the plan. A decision in the case is expected before the end of June.
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