WASHINGTON, D.C. – Today, Senator Rick Scott spoke on the Senate floor and requested unanimous consent to pass his bill, the Debt Cancellation Accountability Act, which would put a stop to President Biden’s reckless decision to transfer billions of dollars of debt from borrowers to American taxpayers, and instead force Congress to vote on the matter.
The Debt Cancellation Accountability Act would require the U.S. Department of Education to obtain an express appropriation from Congress to pay for any federal student loan debts the Department proposes to waive, discharge, or otherwise reduce whenever granted to two or more borrowers in an amount greater than $1,000,000, rather than on a case-by-case basis. Senate Democrats blocked its passage.
Watch Senator Scott’s speech HERE or below. Read Senator Scott’s remarks below.
“Have you ever gone out to eat at a restaurant with a group of people, but your order was cheaper than everyone else’s. Maybe you weren’t as hungry, or the restaurant the group picked was more expensive than you could afford, so you were selective about what you ordered. Then, when the check comes, someone suggests that the group split it evenly.
“What’s your immediate reaction? You’re upset, of course, because you ordered the salad, not the filet mignon, and you drank water, not the expensive bottle of wine. You ordered what YOU wanted and THEY ordered what THEY wanted. You shouldn’t be on the hook for their costs.
“Sadly, this illustration is far too real as last month, Joe Biden announced that he would cancel billions of dollars in student loans. But let’s be clear – he isn’t CANCELLING student debt. No, he’s TRANSFERING that debt to EVERY American taxpayer. Now a construction worker in Florida is having to foot the bill for the loans of a Harvard grad which they voluntarily accepted for an education THEY received.
“So here is what Democrats are saying to that construction worker: You didn’t go to college? Democrats don’t care. You’ll pay the debt of lawyers and doctors. And you’ll pay for those who wanted Ph.Ds in poetry. Talk about poetic IN-justice!
“You went to community college or a state school and worked to graduate debt free? Tough luck. Joe Biden wants you to pay for the advanced degrees of the privileged few. YOUR tax dollars are now the money pot for other people’s student debt.
“Of course, Joe Biden’s plan doesn’t even begin to address the real reason of rising higher education costs… that is universities’ decades-long practice of unnecessarily raising tuition. As Governor of Florida I addressed that problem and challenged our universities to keep education affordable.
“Look at the University of Florida. Undergraduate tuition and fees for this academic year are less than $6,500, and it’s the 5th best public university in the country. You’ll get a FANTASTIC education there. Meanwhile, at Harvard, tuition and fees for this academic year cost more than $57,000. There are ways to make education affordable, but Democrats and elites aren’t interested in those solutions.
“That’s why Joe Biden is engaging in this reckless move even though it doesn’t solve the real issue and even though he lacks the proper constitutional authority.
“Everybody knows this. That’s why in July of last year, Nancy Pelosi herself denied the President had such power. When asked, she said ‘The president can’t do it. That’s not even a discussion.’
“Yet, now the Department of Justice is engaging in interpretive gymnastics to co-opt legislation that was passed to help our service members in the aftermath of 9/11. It’s a desperate attempt to stretch a good law well-beyond its intent so Joe Biden can give handouts to his liberal voters and Harvard pals.
“Biden wants to spend money that Congress has not appropriated for a loan forgiveness that Congress has not authorized. It’s illegal. It’s unconstitutional. It’s a gross abuse of authority and I won’t stand for it. Congress MUST assert its authority here. We have the power of the purse. Not the president.
“That’s why my I’ve introduced the Debt Cancellation Accountability Act. My bill would require the Department of Education to get an express appropriation from Congress before they can propose waiving, discharging, or reducing student loan debts to two or more borrowers in an amount greater than $1 million. If we want to transfer the debt of some and make everyone pay for it, then Congress has to make that decision. We should put it up for a vote.
“Of course, Democrats here in the Senate won’t do that. Surely, they could have passed a bill by now if they really wanted to, but they wanted Biden to do it alone. It’s easy to see why. In just the past few weeks we’ve seen families from across the country speak out against Biden’s unfair and disastrous proposal. I’m hearing about it from Floridians every day and I know my colleagues are too.
“I’d like to thank Senators Barasso, Lummis and Braun for supporting my Debt Cancellation Accountability Act and choosing to stand with me against Biden’s overreach.
“Let’s pass this bill today to reverse Joe Biden’s unlawful decision and force Congress to decide this issue.”