WASHINGTON - Today, Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC) made the following statement on the Limit, Save, Grow Act of 2023, House Republicans’ plan to restore fiscal sanity in America:
“America is $31 trillion in debt. What has President Biden done to defuse this ticking timebomb? Absolutely nothing. Instead, the President continues to double down on reckless policies, including blanket student loan bailouts, that are hurting America’s families, workers, and students.
“According to the Congressional Budget Office, the President’s student loan policies could cost nearly $500 billion over the next decade. What’s worse, the administration’s radical and illegal policies do nothing to solve the root issues of student debt or the rising cost of college.
“Biden’s inflation is cutting our legs out from under us, and the economy is faltering. Yet Biden continues to force taxpayers-including those who never stepped foot on a college campus-to spend billions on student debt cancelation. The American people need bold leadership, so House Republicans are bringing real solutions to the table.
“It’s time for action, not to tuck tail and pretend the problem will go away on its own. The American people-and the future generations who will bear the burden of America’s debt-are counting on us."