Press ReleaseJune 30, 2023

President Biden’s Shameless Response to the Supreme Court’s Decision to Strike Down His Student Loan Bailout

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement on President Biden’s remarks regarding the Supreme Court’s decision to strike down the student loan bailout in response to a case brought by Job Creators Network Foundation:

“President Biden shamelessly failed to recognize a co-equal branch of government in his remarks today following the Supreme Court’s decision to strike down his student loan bailout. Rather than respecting the court’s decision, Biden promised more executive overreach to forgive student loan debt. His proposals include expanded income-driven repayment plans and a 12-month grace period when payments are set to restart this fall. Fresh off our Supreme Court victory today, Job Creators Network Foundation is weighing its legal options to fight these bailout workarounds when they are finalized.

“Biden also trotted out the tired talking point that his student loan bailout is akin to the Paycheck Protection Program lifeline to small businesses and their employees during the Covid-19 pandemic. This is a false equivalence. As the court held today, the student loan bailout is illegal executive overreach, while the PPP was overwhelmingly passed by Congress. PPP loans were a necessary response to forced government shutdowns of businesses, while the student loan bailout is unfair and fails to address the root of this problem: unaccountable colleges that overcharge students.”