House Bill Would Block Biden’s Student Loan Bailout

While the constitutionality of President Joe Biden’s student loan bailout is awaiting a Supreme Court decision, a bill re-introduced by two House members would block the Biden administration from canceling student loan debt on a mass scale. 

The Student Loan Accountability Act, authored by U.S. Representatives Mike Gallagher (R-WI-08) and Drew Ferguson (R-GA-03) would also prevent forgiven loans from getting an additional tax break and it would bar the Internal Revenue Service from sharing American’s tax information for the purpose of implementing mass loan cancelation. 

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