Biden Adds Another $25+ Billion to Taxpayers' Tab, as White House Extends Student Loan Repayment Moratorium

Statement

House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement after it was reported that the Biden Administration will extend the COVID-era student loan repayment moratorium, which to-date has cost taxpayers more than $100 billion, until as late as June 2023 -- at a potential cost to taxpayers of $25.8 billion -- while the Administration's broader student loan giveaway to the wealthy is being struck down in the courts:

"President Biden is talking out of both sides of his mouth, simultaneously claiming the pandemic is over by attempting to end the Title 42 immigration policy while also extending the pandemic-era student loan moratorium that has now cost taxpayers more than $100 billion. Using numbers from the Congressional Budget Office for how much the moratorium has already cost taxpayers, President Biden's additional six-month extension of the student loan repayment moratorium could cost taxpayers another $25.8 billion after the Biden Administration explicitly said back in August there would be no further extensions. The President continues to use a permanent pandemic narrative to rob American taxpayers of more of their hard-earned money, push his welfare for the wealthy agenda, and further fuel the worst inflation crisis in forty years. Using the fact that the courts have struck down his broader student loan giveaway to the wealthy as an excuse for today's decision is further proof that President Biden believes, one way or another, working families need to bail out the wealthiest of households in America."

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