Biden Pours Cold Water on Progressive Push for $50k in Student Debt Cancellation

Joe Biden has poured cold water on the progressive left push for him to forgive $50k in student debt.

Speaking to press Wednesday, Biden prefaced his remarks by saying “I’m going to get in trouble for saying this.”

He then said “the president may have the executive power to forgive up to $50,000 in student debt. Well, I think that’s pretty questionable. I’m unsure of that. I’d be unlikely to do that.”

“Squad” member Ayanna Pressley (D-MA), with support from fellow Democrats Ilhan Omar, Maxine Waters and Alma Adams recently introduced a resolution pushing for the Biden administration to cancel $50k in debt for student borrowers.

In a statement accompanying the resolution Pressley says “the student debt crisis is a racial and economic justice issue and we must finally begin to address it as such.”

She adds “broad-based student debt cancellation is precisely the kind of bold, high-impact policy that the broad and diverse coalition that elected Joe Biden and Kamala Harris expect them to deliver.”

Pressley tweeted last Thursday:

On day one, President-elect @JoeBiden will have the executive authority to cancel billions in student debt

Today, @Ilhan, @RepMaxineWaters, @RepAdams, & I introduced a resolution laying out a plan for him to do exactly that.

She added in a follow-up tweet:

Canceling student debt is a racial & economic justice issue.

As we fight for real economic relief for workers & families, canceling student debt will provide direct relief to millions, help reduce the racial wealth gap, stimulate our economy, & begin to deliver a just recovery.