Lummis Slams Biden Administration Cancelling Debt for Some of our Nation’s Highest Earners

August 24, 2022

CHEYENNE, WY – Today, U.S. Senator Cynthia Lummis (R-WY) released the following statement after President Biden announced a plan that will cancel student loan debt for some of our nation’s highest earners.

“People in Wyoming know there’s no such thing as a free lunch, and cancelling student debt amidst record high inflation will only throw fuel on the fire,” said Senator Lummis. “Any notion that there’s no cost to wiping out billions of dollars of debt is flat out wrong. According to the Penn Wharton Budget Model, this reckless decision will add an additional $300 billion to our national debt, thereby driving the cost of everyday goods even higher. This is incredibly unfair to the hardworking people of Wyoming who will be forced to foot the bill for the richest 40 percent of Americans who carry 60 percent of student loan debt.”