The timing of President Joe Biden's new student debt cancellation plan may position Democrats with a beneficial messaging opportunity in the 2024 election.
After the Supreme Court ruled against the Biden administration's initial student debt cancellation scheme last week, Biden vowed to pursue a similar effort using a different law as the authority.The basis for the new attempt is the Higher Education Act of 1965, which gives the secretary of education the power to"compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including any equity or any right of redemption.
Biden's announcement of a new plan was met with condemnation from Republicans, including Senate Health, Education, Labor, and Pensions Committee ranking member Bill Cassidy and House Education and the Workforce Committee Chairwoman Virginia Foxx . The gamble, Kissel explained, is whether to do a small enough regulation to pass judicial review or a massive proposal like the first one that is likely to be defeated in court on similar grounds.
Either way, Kissel said, Democrats can make the same argument on the campaign trail:"Vote for us so that we can defend this regulation in court."
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