Missouri and six other states filed a complaint on Tuesday, adding another lawsuit against President Biden’s administration as more states try to stop his student loan distribution scheme.
In his complaint, Missouri Attorney General Andrew Bailey claims that Biden’s “SAVE” proposal, which was unveiled in February, is unlawful and will end up costing $475 billion to US taxpayers.
Bailey’s lawsuit against the Biden administration follows shortly after lawsuits from Kansas and ten other states regarding the identical idea.
“With the stroke of his pen, Joe Biden is attempting to saddle working Missourians with a half trillion dollars in debt. The United States Constitution makes clear that the President lacks the authority to unilaterally ‘cancel’ student loan debt for millions of Americans without express permission from Congress,” Bailey stated.
“The President does not get to thwart the Constitution when it suits his political agenda. I’m filing suit to halt his embarrassing attempt to buy the 2024 election in direct violation of the law. The Constitution will continue to mean something as long as I’m Attorney General.”
The attorneys general of Arkansas, Florida, Georgia, Ohio, Oklahoma, and North Dakota have joined Bailey in the lawsuit.
Both Missouri and Arkansas were parties to the case that ended last year with the cancellation of Biden’s prior student loan scheme. By a vote of 6-3, the Supreme Court declared Biden’s scheme unlawful.
“President Biden has already lost on this question once, and he is refusing to follow the law. The Supreme Court could not have been clearer: President Biden cannot unilaterally cancel student debt and force taxpayers to bear the multi-billion-dollar cost,” Arkansas AG Tim Griffin stated.
Biden’s SAVE plan, according to the lawsuit, is a part of “a long but troubling pattern of the President relying on innocuous language from decades-old statutes to impose drastic, costly policy changes on the American people without their consent.”
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The lawsuit filed on Tuesday comes just one day after Biden unveiled yet another proposal to erase student loan debt. The most recent one focuses on reducing loans whose interest has surpassed the principle amount.
Borrowers would be able to reduce their accrued interest by up to $20,000, but couples making less than $240,000 or single borrowers making less than $120,000 would be able to eliminate all of their interest beyond the principal amount.
As a result, the principle amount of about 23 million American loans would be reduced.
Bailey stated his office is keeping an eye on the interest cut, even though he has nothing official to report in terms of legal action.
“We beat his unlawful student loan plan in court last summer, so he quickly rolled out Plan B. Now that we’re challenging that, he’s panicked and is rolling out a Plan C. We will continue to watch him closely and take action whenever he’s overstepped his authority,” Bailey stated.
