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Student debt is becoming a key issue that the Democratic Party is facing from the public. The party’s progressive wing has since warned that any further inaction on the issue could cost the party its majority in the 2022 races.
Both political parties are already gearing up for the 2022 midterm elections which will determine which party controls the House and the Senate. The progressive Democrat faction has been sounding the alarm towards potentially losing votes in the coming races if the Biden administration does not make good on its promise of student debt forgiveness. This is despite the administration ordering another pause on student debt payments for an additional 90 days.
Prior to the extension of the pause, some top Democrats have raised concerns on the payments restarting and how it may cost the Democratic Party in the 2022 midterm elections. The total amount of student debt in the US is currently at $1.75 trillion. New York congresswoman Alexandria Ocasio-Cortez said it would be “delusional” to believe the notion that Democrats up for reelection would win another term should no further action be done on the issue.
Speaking with ABC News, Student Debt Crisis Center president Natalia Adams said that the Democratic Party and lawmakers need to approach the issue with caution as this is what the public has demanded. NAACP President Derrick Johnson also tweeted that if the administration could be able to continue extending the pause on student debt payments, cancellation could be done.
However, regarding student debt, prominent Democrats are at odds on who has the power to cancel student debt. While Senate Majority Leader Chuck Schumer and Senator Elizabeth Warren have pushed the Biden administration to use executive powers to cancel student debt, House Speaker Nancy Pelosi said back in July that US President Joe Biden does not have the authority to do so as it could only be done through Congress.
Democrats are also gearing up for a future where Pelosi finally steps down as House Speaker, along with a major shift in leadership, according to the Washington Post. New York Congressman Hakeem Jeffries, who chairs the House Democratic caucus, is seen as a favorite to succeed Pelosi as speaker. However, the outlet notes that a debate on who would serve in a leadership role has just begun and could expose a rift between moderates and progressives.
