+
Education

HANDOUT? HOLDUP! Federal Appeals Court Issues Nationwide Injunction on Biden's Student Debt Cancellation

posted by Hannity Staff - 11.14.22

It appears Joe promised something he may not be able to deliver.

According to a CNBC report, President Biden’s student debt cancellation handout has been hit with a nationwide injunction by a federal appeals court in St. Louis; the 8th Circuit Court of Appeals is the latest in a series of legal challenges to President Joe Biden’s plan to cancel up to $20,000 in student debt for millions of Americans.

From CNBC:

Monday’s decision by the appeals court came after six GOP-led states argued in a lawsuit that the loan relief program threatens their future tax revenues, and that the plan circumvents congressional authority.

“The injunction will remain in effect until further order of this court or the Supreme Court of the United States,” a three-judge panel of the appeals court said in its ruling.

The injunction will put the program on hold pending an appeal of a lower court ruling that had allowed the debt relief program to go forward. The Biden administration could ask the Supreme Court to lift the injunction.

…

The appeals court said that Missouri had shown a likely injury in fact from the program, pointing out that a major loan servicer headquartered in the state, the Missouri Higher Education Loan Authority, or MOHELA, would lose revenue under the plan. Missouri’s state treasury department receives money from MOHELA.

“And since at least one party likely has standing, we need not address the standing of the other states,” the panel concluded.

More over at CNBC: