Washington, D.C. – Sen. Mike Lee (R-UT) opposes President Biden’s plan to cancel a portion of federal student debt. Lee offered the statement below following the plan’s announcement.

"President Biden’s plan to cancel student debt is yet another reckless spending policy during a period of dangerous inflation. This plan will hurt everyone, including those the policy purports to help. Canceling debt will do little to ease America’s economic burden and will instead fuel inflation, increase the cost of education, and further the divide between the rich and poor. This sets a dangerous precedent and misleads future borrowers who presume additional forgiveness is inevitable."