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Senate Minority Leader Mitch McConnell on Wednesday ripped President Biden’s plan to cancel hundreds of billions of dollars in student loan debt, calling it a giveaway to “elites with higher salaries” that does nothing to help working Americans who are struggling to pay their bills because of skyrocketing inflation.
Biden said that his administration will forgive up to $10,000 in federal loan debt for individual borrowers earning less than $125,000 a year or married couples earning less than $250,000 per year.
Recipients of Pell Grants could qualify for up to $20,000 in loan forgiveness.
“President Biden’s inflation is crushing working families, and his answer is to give away even more government money to elites with higher salaries,” McConnell said in a statement posted on Twitter. “Democrats are literally using working Americans’ money to try to buy themselves some enthusiasm from their political base.
