{"id":1622790,"date":"2022-08-26T10:14:37","date_gmt":"2022-08-26T14:14:37","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1622790"},"modified":"2022-08-26T10:14:46","modified_gmt":"2022-08-26T14:14:46","slug":"democrats-grasping-at-straws-for-votes-by-canceling-student-loan-debt-gop-lawmaker","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-grasping-at-straws-for-votes-by-canceling-student-loan-debt-gop-lawmaker\/","title":{"rendered":"Democrats \u2018Grasping at Straws\u2019 for Votes by Canceling Student Loan Debt: GOP Lawmaker"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocrats-grasping-at-straws-for-votes-by-canceling-student-loan-debt-gop-lawmaker%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1622790&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Canceling <a href=\"https:\/\/www.theepochtimes.com\/t-student-loan\">student loan<\/a> debt is the latest bid by Democrats to win votes and prevent the House chamber from flipping red this fall, according to Rep. Virginia Foxx (R-N.C.).<\/p>\n<p>\u201cDelaying this until now, pretty close to the election, is certainly a political ploy,\u201d the congresswoman told Capitol Report, a program on The Epoch Times\u2019 sister media NTD, hours after the Biden administration <a href=\"https:\/\/www.theepochtimes.com\/biden-admin-to-cancel-10000-of-student-loan-debt-for-millions-despite-inflation-concerns_4685966.html\">said<\/a> it will forgive $10,000 in federal <a href=\"https:\/\/www.theepochtimes.com\/t-student-loan-debt\">student loan debt<\/a> for borrowers who meet the low-income test.<\/p>\n<p>With the midterm elections nearing, Republicans are poised to take back the House, and the Democrats, Foxx said, are \u201cgrasping at straws\u201d to appeal to their voter base.<\/p>\n<p>But forgiving college loan debts\u2014$10,000 for low-income students and $20,000 for Pell Grants recipients\u2014is \u201cvery irresponsible on the part of the president,\u201d both for the economic damage and the lack of cost competitiveness it creates, Foxx said.<\/p>\n<p>An analysis by the University of Penn Wharton <a href=\"https:\/\/budgetmodel.wharton.upenn.edu\/issues\/2022\/8\/23\/forgiving-student-loans\">estimates<\/a>\u00a0that a one-time cancellation of $10,000 loan debt per borrower will cost the United States $300 billion, while a large share of the benefits going to higher income earners.<\/p>\n<p>\u201cThis is bad policy in every possible way,\u201d said Foxx, who noted that 87 percent of American taxpayers don\u2019t owe student loans.<\/p>\n<p>\u201cIt\u2019s a wealth transfer,\u201d she said. \u201cIt is irresponsible on their part to be transferring wealth from people who never had a chance to go to college, or who paid back their loans on their own, to people who are in the top 60 percent of earners in the country. It is just wrong.\u201d<\/p>\n<p>The policy also puts into \u201cfull center\u201d the question why American education is so expensive in the first place, the congresswoman said, adding that Republicans have made plans to cut the cost of post-secondary education.<\/p>\n<p>\u201cAs long as the federal government will continue to<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canceling student loan debt is the latest bid by Democrats to win votes and prevent the House chamber from flipping red this fall, according to Rep. Virginia Foxx (R-N.C.). \u201cDelaying this until now, pretty close to the election, is certainly a political ploy,\u201d the congresswoman told Capitol Report, a program on The Epoch Times\u2019 sister [\u2026]<\/p>\n","protected":false},"author":361,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1622790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1622790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/361"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1622790"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1622790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1622790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1622790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1622790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}