Most Americans support Biden’s student loan until they realize he’s raising taxes: poll

According to a recent poll, a majority of Americans would oppose President Joe Biden’s plan to “forgive” billions of dollars in federal student loans if it resulted in higher taxes.

The poll (pdf), conducted by British data firm YouGov on behalf of the libertarian Cato Institute, found that 64% of American adults said they favored the federal government “forgiving” up to $10,000 in federal student loans to people earning less than $150,000 a year. , or less than $300,000 per year for married couples.

“However, support for federal student loan debt cancellation plummets as Americans consider its trade-offs,” the Cato Institute said.

When asked if they would support the same plan if it “raised your taxes”, 64% of respondents said they would oppose the move, according to the results.

Meanwhile, 68% of respondents said they would oppose the student loan bailout if it “mainly benefited high-income people.” Seventy-six percent would oppose the plan if it forced universities to raise tuition and fees, while 71% would oppose it if it meant more employers requiring college degrees even when they are not necessary for the job.

“These data show that Americans don’t like the costs that many experts believe are associated with federal student loan forgiveness,” said Cato’s polling director Emily Ekins.

The poll also shows some differences between Democrats and Republicans in their response to compromises. “Without considering trade-offs, Democrats strongly support (88%) federal student debt cancellation, as do a majority (58%) of independents,” reads a summary of the finding. “However, Republicans oppose about 2 to 1, with 63% opposed.”

“A majority (56%) of Democrats would continue to support student debt cancellation even if it raised taxes,” he continued. “But Democrats oppose canceling $10,000 in student debt per borrower if it would mean colleges would raise prices (67%) or result in degree inflation (64%).”

The poll was conducted online between August 17 and 23 among 2,227 American adults, with a margin of error of plus/minus 2.39 percentage points.

Regime faces legal challenge

Under the plan unveiled Aug. 25 by U.S. Secretary of Education Miguel Cardona, individual borrowers earning less than $125,000 a year or families earning less than $250,000 will be eligible for debt forgiveness of up to $10,000, while Pell Grant recipients who meet these income standards will be eligible for relief of up to $20,000. Pell grants are usually awarded to students from low-income households to help cover their college expenses.

In a note released the day before the announcement, Cardona said the plan is justified under what is called the HERO Lawa 2003 law on higher education created in response to the war in Iraq.

Specifically, the act states that the Secretary of Education may “revoke or vary any provision of law or regulation” relating to federal student financial aid for those serving in the military during a war, those living or working in a disaster-affected area, or those who “have suffered direct economic hardship as a direct result of war or other military operation or national emergency”.

According to Cardona, the federal government has declared the COVID-19 pandemic a nationwide national emergency, which means its government can invoke the HEROES Act to help every borrower living in the United States.

Two lawsuits have so far been filed to block the plan. Both argue that Cardona’s justification is flawed.

The U.S. Department of Education has failed to prove that “the broad class of 43 million borrowers” suffered direct economic hardship as a direct result of war or other military operation or national emergency “regarding the COVID-19 pandemic,” the complaint reads. filed Sept. 12 by Daniel Laschober, who ran in the Republican primary for Georgia’s 2016 U.S. Senate seat.

“[The HEROES Act] states that the Secretary of Education is not required to exercise the power to waive or vary on a case-by-case basis; however, the amount of student loan forgiveness per person or per household, as determined by [the Education Department] is arbitrary and capricious,” he added.

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Bill Pan is a reporter for The Epoch Times.

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