Foxx Skewers Biden Over IDR Plan Following CBO’s Blockbuster Cost Estimate
March 13, 2023
Today, Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC) skewered the Biden administration’s IDR rule after the Congressional Budget Office estimated this radical policy will cost taxpayers $230 billion. The IDR proposal will severely exacerbate rising college costs and excessive borrowing.
“The administration’s Income-Driven Repayment rule is nothing more than a backdoor attempt to provide free college by executive fiat,” said Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC). “Transferring $230 billion from borrowers who willingly took out debt to taxpayers who did not is fiscally irresponsible and morally reprehensible. Make no mistake, I soundly reject this illegal abuse of power.”
