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House Republicans slam Biden ‘clown’ attack comparing COVID loans to student debt booklet

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The White House on Twitter this week tried to call out the hypocrisy of Republicans who don’t support hundreds of billions of dollars in student loans, but had forgiven COVID loans for their associated businesses.

President Biden’s move to use taxpayer money to eliminate $10,000 in student loans ($20,000 for Pell Grant recipients) for those earning less than $125,000 a year has been heavily criticized by the Republican Party, as well as by many politicians. Democrats. The action would likely cost $500 billion, but total costs could be closer to $900 billion, according to a Penn Wharton Budget Model plan review.

Amid already high inflation, Biden’s action has been called irresponsible, but the White House has launched an attack on critics saying some Republican politicians are associated with companies that received Paycheck Protection Program loans and they were forgiven, as part of the CARES Act. intended to help small businesses get through the closures in 2020 and 2021 that were put in place to stop the spread of COVID-19.

However, the two programs, PPP and student loan, could not be more different, according to Republicans.

THE WHITE HOUSE IS SILENT ON WHETHER TAX INCREASES ARE NECESSARY TO PAY OFF THE $300,000,000,000 STUDENT LOAN

“PPP loans are designed to be forgiven. Student loans are not. Big difference!” Rep. Mike Kelly, R-Pennsylvania, said in a tweet in response to the attack on White House Twitter accounts.

PPP loans were also approved by Congress, another distinction the White House has not mentioned. Even student loan grants, which have long been on the wish list of progressive leftists, were previously thought to be possible only through legislative action.

“Only someone like Joe Biden, who has lived off taxpayer dollars for fifty years, can confuse the difference between PPP loans and student loans. At the height of an unprecedented pandemic in which businesses around the country were forced to shut down, PPP loans were doled out to keep people employed as they had no choice but to shut down completely,” Rep. Greg Pence, R-Indiana, said in a statement to Fox News Digital.

BIDEN’S STUDENT LOAN BOOKLET COULD ELIMINATE SCHUMER-MANCHIN ACT DEFICIT REDUCTION

“Congress debated the bill and finally approved it, 419-6. Biden’s political payoff in the form of student loan handouts for people who chose to attend college and apply for loans never saw any action from Congress because there was no way Congress would support it. Instead, he is abusing the power of the Presidency to dole out billions of dollars in bribes to students who support him politically and forcing the average American to pay thousands to fund his scheme,” Pence added.

House Speaker Nancy Pelosi, D-Calif., even said last year that Biden did not have the authority to eliminate student borrower debt without Congress.

“People think that the president of the United States has the power to write off the debt, he doesn’t,” Pelosi said in July of last year. “He can postpone, he can delay, but he doesn’t have that power. That has to be an act of Congress.”

Several Chamber members had businesses, or were associated with businesses, that applied for and received PPP loans in 2020 and 2021. The CARES Act provided that if the loans were used for payroll, businesses would not have to lay off employees, which that have increased the number of unemployed Americans, then they would be forgiven. The program costs around $900 billion,

Rep. Ralph Norman, RS.C., for example, lists in his financial disclosures that he is connected to two companies that took out PPP loans, which were later forgiven.

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“The PPP helped people stay employed while the government literally shut down much of the economy. Only an intellectual clown would compare that to what Biden is doing now,” Norman told Fox News Digital in a statement. “There is absolutely no defense to taking someone’s student loans and forcing that debt onto other people. It’s immoral and illegal, and it takes a special kind of idiocy to equate that with PPP.”

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