Nancy Pelosi rejected efforts by Chuck Schumer and other progressives to convince Biden to unilaterally cancel large amounts of student loan debt, exacerbating a growing rift in the Democratic party over the issue
Senate Majority Leader Chuck Schumer puts on a mask that reads "Cancel Student Debt" during a news briefing. | Alex Wong/Getty ImagesHouse Speaker Nancy Pelosi on Wednesday rejected efforts by Senate Majority Leader Chuck Schumer and other progressives to persuade President Joe Biden to unilaterally cancel large amounts of student loan debt, exacerbating a growing rift in the Democratic Party over the issue.
Her remarks stood in sharp contrast to the pressure campaign that Schumer, Sen. Elizabeth Warren and other progressives have been organizing for months to persuade Biden to swiftly wipe out the debt for tens of millions of loan borrowers.he has repeatedly saidOn Tuesday, Schumer — who wore a face covering emblazoned with “#CancelStudentDebt” around the Capitol — said he believed they were making progress in persuading the Biden administration to act.
Pelosi said that it was up for discussion how lawmakers should structure any student debt cancellation program, describing the policy debate as a question of whether to provide relief to “more people with even less debt or fewer people with more debt.” Progressives who back widespread debt cancellation shot back at Pelosi’s remarks. “Suppose your child did not want to go fight countless and endless shadow wars across the globe, at this time, but you’re paying taxes to fund all of that,” Rep. Rashida Tlaib Biden has already declared publicly that he’s unwilling to cancel $50,000 per borrower but has said he’s more comfortable with $10,000 per borrower, an amount of loan forgiveness that he promised on the campaign trail.
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