February 28, 2023
40,107
168
444
1.53%
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
1:08Now PlayingThe US Supreme Court’s conservative majority cast doubt on President Joe Biden’s plan to slash the student debt of more than 40 million people, imperiling one of his signature initiatives in a high-stakes showdown over presidential power.
As the court heard two cases Tuesday, Justice Brett Kavanaugh suggested he is wary of expanding presidential powers during national emergencies. The Biden administration argues that the student loan forgiveness program is a response to the COVID-19 pandemic.
“Some of the biggest mistakes in the court’s history were deferring to assertions of executive emergency power,” Kavanaugh said. “Some of the finest moments in the court’s history were pushing back against presidential assertions of emergency powers.”
Chief Justice John Roberts suggested Congress didn’t authorize the president to unilaterally take a step with such enormous financial implications for millions of Americans.
“We’re talking about half a trillion dollars and 43 million Americans. How does that fit under the normal understanding of modifying?” Roberts said, referring to a key word in the 2003 law at the center of the case.
The law, known as the Heroes Act, says the secretary can “waive or modify” provisions to ensure that debtors “are not placed in a worse position financially” because of a national emergency.
--------
Subscribe to our YouTube channel
Subscribe to Bloomberg Originals
Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
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.