Trump agenda bill overhauls Biden student loan ‘scheme’: Top Republican

The Chairman of the Senate Committee mainly claims victory over former student loan plans, Joe Biden as part of a “large and beautiful bill” for President Donald Trump.

“The Biden administration was trying to forgive student loans for people who obtained a loan for a good and asked taxpayers, including people who have never gone to college and will never do what will get the loan to hope at all,” told Fox News Digital, Chairman of the Health, Education, Workers, and pensions.

“So we end the transfer of student loan on taxpayers, and this may be our biggest savings.”

Cassidy’s committee issued its part of the Trump Business Spec have a late Tuesday.

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A press release of the legislation said that “student loan plans that transport debt ends to 87 percent of Americans who chose not to go to college or have already paid their loans” and “prevents the departments of Democrats in the future as well.”

The draft law specifically aims to expand Biden to defend the borrower to payment lists and closed school discharge regulations, which Republicans have held as expensive policies that convert the burdens of federal students ’loans into other taxpayers.

Various versions of Biden’s plans were subjected to court.

The draft law will also cancel the federal Grad Plus loans, a program that students use at the level of graduate studies and professionals to pay the price of their studies, which can be used in the full attendance cost of graduate students.

Instead, this annual maximum will remain worth $ 20,500 for direct federal loans that are not supported on graduate degrees, reaching a total of $ 100,000, except for university loans. For professional grades, it maintains an annual loan of $ 50,000 and a total rate of $ 200,000.

The legislation also aims to take strict measures on the taxpayer motivation that supports grades from low -performance universities.

Colleges that see people with a university degree earn less than a model high school graduate in their mandate, or postgraduate programs where attendees earn less than a normal bachelor’s recipient, from federal students ’loan programs.

Cassidy said: “What we have is a position that people can borrow more than they can pay effectively, and this destroys their lives, and leaves them the burden of debt that makes them unable to do other things in life. There are at least some of the meaning that universities offer these programs are the situation. And so we try to fix that.”

“Therefore, we have judgments that may say that if the certificate that is obtained in the end does not end, the person who gets this degree does not happen on average more than the person who did not get this degree, the federal government will not lend money.”

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Senator Bill Cassidy, a Republican of Louisiana and Chairman of the Health, Education, Labor and Pensions Committee in the Senate, spoke with Fox News Digital about the draft law. (Bloomberg via Getti Emose)

To encourage more people to pursue non -total grades, the draft law will also establish a working Bill grant. Pell is currently aimed at giving low -income students who follow a Bachelor’s degree and is generally not paid.

“For example, the student gets a commercial driver’s license. They will go out and achieve $ 100,000 a year after a few years of driving. I was told that we want to enable these people to achieve this,” Cassidy said.

Foreign income will be taken into account when evaluating Pell’s grants, while the origins of farms and small businesses will not, according to the Republican Party bill. Cassidy said that these and many other measures in the legislation will add up to nearly $ 300 billion of taxpayers savings.

Republicans in the Senate are currently working through their copy of the Trump Agenda Bill, which passed the House of Representatives late last month.

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Republicans use the budget settlement process to pass a flat bill that is submitting Trump on taxes, immigration, energy, defense and national religion. They are also working to use it to reduce the national debt – which is close to $ 37 trillion – with the aim of reducing $ 1.5 trillion of federal spending.

The party’s reconciliation in power allows to avoid the minority completely, in this case, the Democrats, by reducing the Senate threshold to progress from 60 votes to 51 votes. Legislation must adhere to a specific range of rules, including measures that deal with budget, taxes or national debts.

Each of the House of Representatives and the Senate must approve identical publications from the bill before it arrives at the Trump office to sign. The version of the house passed from 215 to 214, and leaders there appealed the Alawite room to change as much as possible.

Cassidy admitted that there were some changes, but he was optimistic about how to meet them at home.

“There are many things, but there is one thing I think they will love it is to fully fund Pell Grant. You know, we deal with the shortage there. So I think they will love it,” he said.

“Low -income students will reach access to job education. We need this type of job type to ensure that all this manufacturing and construction has a workforce to address it. Therefore, we believe it helps in the needs of society. We believe it helps the student’s needs.”

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The leaders of the House of Representatives and the Senate had previously set a goal in obtaining a draft law on the Trump office by July 4.

Cassidy refused to comment on whether this was a possible criterion, but he argued that the legislators should be ready to extend this schedule – and perhaps the summer comfort decreased – to get the final product.

He said: “With regard to me, the most important thing is to correct it. So if there is a delay, the president said today – if there is a delay, this is not great in the deal. The most important thing is that we get it correctly.”