WASHINGTON (Pakistan Point News / Sputnik - 22nd June, 2023) The US House of Representatives failed to override President Joe Biden's veto of a resolution to end the pause on Federal student loan payments and block the president's debt relief program for eligible borrowers.
The House on Wednesday failed by a vote of 221-206. A two-third majority was needed for a veto override.
Biden's student loan forgiveness program would cancel up to $20,000 in debt for borrowers who earned an annual income of under $125,000 as individuals or married couples with an annual income of $250,000. The Supreme Court is slated to issue a ruling later this month on challenges contesting the legality of the Biden's forgiveness program.
The pause on student loan payments has been extended eight times since March 2020 as part of the COVID relief efforts. However, the recent legislation to raise the US debt ceiling, which passed Congress and was signed into law over the weekend, includes a provision that would resume student loan payments 60 days after June 30.
