Senate Republicans narrowly were unable to pass a Nov. 15 Congressional Review Act resolution offered by Senate Health, Education, Labor, and Pensions Committee Ranking Member Bill Cassidy, MD, (R-La.) that would have blocked the Biden administration's Saving on Valuable Education (SAVE) income-driven loan repayment program.
Sen. Joe Manchin (D-W.Va.) joined Republicans in voting 49-50 to block the new program, which, among other features, eliminates interest not covered by a borrower's payment and reduces growth in a borrower's balance as a result. Critics of the program argue that taxpayers should not bear the $559 billion cost.
- Washington Highlights