Reversing Biden Executive Actions Could Save up to $1.4 Trillion
November 26, 2024
As the national debt approaches record levels and interest costs surge, the next Administration and Congress will need to find options to reduce deficits and cover the costs of any new initiatives. We recently outlined $700 billion of “easy” and relatively bipartisan deficit reduction as a good place to start and will publish many more options in the coming weeks. One possible source of deficit reduction could come from reversing some of the executive actions from the Biden Administration.
Through either legislation or new executive action, we find the incoming Administration and Congress could save up to $1.4 trillion, or up to $830 billion if certain rules are withdrawn and/or the courts rule various executive actions cancelling student debt to be illegal.
