Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
Biden’s Student Loan Forgiveness Plan Struck Down by Federal Judge
Posted
November 11, 2022
Views
2,689
Likes
44
Comments
16
Engagement
November 11, 2022
2,689
44
16
2.23%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
0:12Now PlayingA federal judge in Texas struck down the Biden administration’s sweeping student loan forgiveness plan, calling it “one of the largest exercises of legislative power without congressional authority in the history of the United States.”
US District Judge Mark Pittman, an appointee of President Donald Trump, sided with two borrowers in Texas who argued the government violated federal administrative procedure in implementing the plan.
“In this country, we are not ruled by an all-powerful executive with a pen and a phone,” Pittman wrote in an order declaring the policy unlawful. “Instead, we are ruled by a Constitution that provides for three distinct and independent branches of government.”
The loan forgiveness plan is already on hold under an emergency stay from the 8th US Circuit Court of Appeals in a separate lawsuit brought by six Republican-led states. The plan has drawn a litany of legal challenges since its inception, several of which have been dismissed for lack of standing.
The Justice Department said it would appeal the decision. White House Press Secretary Karine Jean-Pierre said the administration strongly disagreed with the ruling.
“The president and this administration are determined to help working and middle-class Americans get back on their feet, while our opponents -- backed by extreme Republican special interests -- sued to block millions of Americans from getting much-needed relief,” Jean-Pierre said in a statement. “We will never stop fighting for hardworking Americans most in need -- no matter how many roadblocks our opponents and special interests try to put in our way.”
Subscribe to our YouTube channel
Subscribe to our newest channel Quicktake Explained
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
