GOP Statement on Biden's Bailout

GOP Statement on Biden’s Bailout

August 24th, 2022

News Release | Republican National Committee

Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on Joe Biden’s bailout for wealthy Americans:

“This is Biden’s bailout for the wealthy. As hardworking Americans struggle with soaring costs and a recession, Biden is giving a handout to the rich. Biden’s bailout unfairly punishes Americans who saved for college or made a different career choice, and voters see right through this short-sighted, poorly veiled vote-buy.”

Biden’s plan to cancel $10,000 in student debt per person would cost American taxpayers an additional $300 billion and would immediately increase inflation and “create additional inflationary pressure over time.” Canceling billions in student debt would benefit the wealthy while doing “little to help future college students, borrowers who have already paid off their loans and those who never went to college in the first place.” “All serious economists agree” that student loan cancellation is regressive.

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