Nevada Senate candidate Adam Laxalt blasts Biden’s student debt relief

LAS VEGAS, Nev. (KOLO) - Nevada Senate Candidate Adam Laxalt issued a statement blasting the Biden administration for its student debt relief plan, calling it a “bailout.”

President Biden’s plan would do the following, as announced by the White House on Wednesday:

Provide $10,000 in debt forgiveness for those making less than $125,000 a year
Provide $20,000 in debt forgiveness for those who went to college with Pell Grants
Extend the pause on loan repayments through December
Allows you to cap your repayments at 5% of your monthly income

In a statement, Laxalt said:

“The Biden/Masto $300 billion student debt bailout is unconstitutional, immoral, and fundamentally bad policy. It will line the pockets of the wealthiest Americans and fuel the flames of inflation, layering further pain on the back of Nevada families already struggling to get by.”

”According to the Penn Wharton Budget Model, the Biden/Masto redistribution scheme will cost taxpayers more than $300 billion, and will further drive up Nevada’s already alarming 15.4 percent inflation rate.”This massive bailout is an insult to all the parents who saved up to send their kids to college, and to those students who worked hard during summer months and while in college to pay for their classes.”

“Further, it’s a slap in the face to the tens of millions of Americans who couldn’t afford or decided not to attend college. That they are now being forced to pay off the student debt of the largely well-off is wrong and fundamentally un-American.”

”For the past year, Nevadans have borne the brunt of the failed Biden-Cortez Masto agenda. Families across our state are struggling to get by amid 40-year-high inflation, record gas prices, and shortages of baby formula and other key essentials.”

”Instead of providing much needed relief, Biden and his enablers like Senator Cortez Masto are doubling down, forcing Nevada workers and families to foot a massive student debt bailout, worsening the inflation crisis. Voters will hold her accountable this fall.”