Speaker of the House Kevin McCarthy outlined some of the provisions of the debt ceiling deal agreed to on Saturday, including its impact on President Joe Biden’s plans to implement federal student debt relief.
McCarthy said the bill would end the pause on federal student debt payments 60 days after the bill was passed, accelerating the June 30 window for the pause to end. “That is another victory,” McCarthy said on, arguing it brings in billions of dollars in government funds. The House of Representatives passed a bill on Wednesday to block Biden’s plan to cancel thousands of dollars in student debt and to end the pause on payments. The Biden plan is currently awaiting a Supreme Court decision.
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