Wednesday, August 24, 2022
ATLANTA – Today, Herschel Walker released the following statement slamming the Biden-Warnock plan to cancel student loan debt.
A recent study by the National Taxpayer Union (NTU) found that this plan would cost the average American taxpayer over $2,000 per year, yet another example of Biden and Raphael Warnock raising taxes on hard-working Georgians.
Additionally, the Penn Wharton Budget Model released a study showing that this plan would cost $300 to $980 billion over the next ten years and would likely exacerbate the record-high inflation rates we have seen over the last year. The study also found that the majority of relief would go to borrowers in the top 60% of earners. It is also important to note that this plan does NOTHING to make college more affordable for the average American, it merely kicks the can down the road by spending money we don’t have.
“Raphael Warnock’s reckless spending knows no limits,” said Herschel Walker. “What does this plan for student loans do for folks who worked to get through college? For ones who already paid off their loans? What about the family that used their life savings to send their kid to college? We should absolutely work to make college more affordable but Warnock’s plan does nothing to do that. Instead, he wants to raise taxes on hard-working Georgians and push inflation even higher than he already has.”