Top Republican: Congress shouldn't fund Biden's 'attempt to steal $400 billion from taxpayers'

The top Republican on the House Education and Labor Committee is calling on Congress not to fund President Biden's student loan forgiveness program, calling it an "attempt to steal $400 billion from taxpayers."

Biden implemented the program unilaterally without congressional action.

Federal spending watchdog group the Committee for a Responsible Federal Budget projects that the cost of the program will reach $420 billion. 

North Carolina Republican Rep. Virginia Foxx, ranking member of the House Education and Labor Committee, said Congress will have to decide whether to provide the funds to cover the debt forgiveness, which the Department of Education puts at approximately $30 billion each year but noted that economic conditions could change its estimate.

She also said Congress would likely have to sign off on a larger budget for the department so it can hire more employees to implement the student debt forgiveness program.

"Whether it's utter incompetence or an intentional handout, taxpayers are not only being forced to write a check for someone else's college tuition but also giving a $10,000 raise to government employees," Foxx said in a statement provided to Just the News. "With record inflation, rising crime, and a crisis at the southern border — the president is more focused on student loan bailouts and bonuses for government bureaucrats than fixing the messes his administration and Democrats in Congress created.  

"The [Education] Department thinks it can do things by executive fiat yet money has to come from somewhere. Congress holds the power of the purse, and while the president can attempt to steal $400 billion from taxpayers through his student loan scheme, Congress has to appropriate the money to implement it and I hope that number is $0."