Washington Watch

Senate-approved debt ceiling bill terminates student loan pause

With a June 5 deadline fast approaching, debt ceiling deal heads to Biden’s desk

President Joe Biden has vowed to veto a bill terminating his student loan pause. But the pause will end anyway if Biden signs the debt ceiling bill that passed both the House and the Senate this week.

Michigan Sens. Gary Peters and Debbie Stabenow, both Democrats, voted yes. The Senate passed the bill 63-36, with one senator not voting.

Biden has incentive to act soon, given the June 5 deadline for a deal on the debt ceiling. That’s Monday.

House Resolution 3746 contains a provision that would terminate the student loan pause 60 days after June 30, which falls in late August.

That provision is at the heart of House Joint Resolution 45, which disapproves and terminates the student loan pause. Biden said he would veto that bill, which also passed both the House and the Senate.

Read it for yourself: House Resolution 3746

The debt ceiling bill is not thought to be a candidate for veto because of its importance. For months, elected Democrats and Republicans have stressed the need to avoid a default.

Having passed both chambers, the debt ceiling bill now heads to Biden’s desk.

The Mackinac Center has sued the Biden Department of Education over the student loan pause.

Michigan Capitol Confidential is the news source produced by the Mackinac Center for Public Policy. Michigan Capitol Confidential reports with a free-market news perspective.