[Congressional Record Volume 169, Number 87 (Tuesday, May 23, 2023)]
[House]
[Pages H2532-H2533]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     STUDENT DEBT RELIEF INITIATIVE

  (Mrs. McCLELLAN asked and was given permission to address the House 
for 1 minute and to revise and extend her remarks.)
  Mrs. McCLELLAN. Mr. Speaker, I rise today to oppose House 
Republicans' extreme attempt to roll back President Biden's one-time 
emergency student debt relief initiative.
  This bill would undoubtedly jeopardize the financial well-being of 
millions of Americans. This bill is cruel and would rescind life-
changing debt relief of up to $20,000. Ninety percent of Americans who 
are eligible to receive this relief earn less than $75,000 per year.
  The bill would also repeal the student loan payment pause and force 
borrowers to unexpectedly confront months of accumulated payments and 
interests. Forty-three million borrowers have benefited from the pause 
and saved on average $150 per month in

[[Page H2533]]

interest. At a time when tuition continues to rise exponentially, 
countless students and graduates are being crushed by tens of thousands 
of dollars in student loan debt.
  President Biden's cancellation would be transformative for millions 
of Americans who sought to build intergenerational wealth and improve 
their economic circumstances through education. While House Republicans 
try to make it harder for young Americans to survive, my Democratic 
colleagues and I will continue to fight for much provided relief.

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