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Home›Loans›Trump veto CRA resolution aimed at blocking student loan rule – Ballotpedia News

Trump veto CRA resolution aimed at blocking student loan rule – Ballotpedia News

By Cathy W. Dorsett
March 9, 2021
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On May 29, President Trump vetoed a resolution passed under the Congressional Review Act (CRA) to block a US Department of Education (DOE) rule related to the government’s forgiveness of certain debts. student loans. Congress would now have to override its veto to block the rule.

In his veto message, Trump said: “While the last administration has promoted a regulatory environment that has resulted in precipitous school closings and stranded students, this new rule prioritizes the needs of students, extends the window for which they can qualify for a loan discharge and schools to provide students with the opportunity to complete their education and continue their quest for economic success.

House Speaker Nancy Pelosi (D-Calif.) Responded to the veto with this statement: “The House will soon vote to overturn this veto, which seriously undermines the financial security and future of American students, d ‘more so than ever during the COVID-19 crisis. “

On January 16, 25 Democrats and six Republicans voted to pass the resolution in the US House while 179 Republicans and Justin Amash (L-Mich.) Voted no. A version of the resolution was passed by the U.S. Senate on March 11 with 42 Democrats, 10 Republicans and Angus King (I-Maine) voting to pass the resolution while 42 Republicans voted no.

The DOE released the 146-page rule in September 2019. The rule changed the process students must follow to pay off their loans and allowed the agency to collect money from schools to cover losses. financial results as a result of successful student challenges. Education Secretary Betsy DeVos argued in a December 2019 press release that the new rule “ensures that taxpayers who have not gone to college or who have faithfully repaid their student loans do not assume not the costs of student loans for those who have not suffered “.

The CRA gives Congress the ability to review and reject any new regulatory rule created by federal administrative agencies. Since the law was created in 1996, Congress has used the CRA to repeal 17 of the more than 90,767 rules published in the Federal Register during that time.

Further reading:

Administrative State Project

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