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Pelosi rebuffs Schumer’s push to get Biden to cancel student debt

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House Speaker Nancy Pelosi on Wednesday rejected efforts by Senate Majority Leader Chuck Schumer and other progressives to persuade President Joe Biden to unilaterally cancel large amounts of student loan debt, exacerbating a growing rift in the Democratic Party over the issue.

Pelosi said that Biden lacks the executive authority to cancel student loan debt and also questioned the wisdom and fairness of such a policy, which has been a major priority for the left in recent years.

“Suppose … your child just decided they, at this time, [do] not want to go to college, but you’re paying taxes to forgive somebody else’s obligations,” Pelosi said during a news conference. “You may not be happy about that."

Her remarks stood in sharp contrast to the pressure campaign that Schumer, Sen. Elizabeth Warren (D-Mass.) and other progressives have been organizing for months to persuade Biden to swiftly wipe out the debt for tens of millions of loan borrowers.

Schumer has been leading the calls to cancel as much as $50,000........

© Politico

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