Republicans, led by Speaker of the House Kevin McCarthy, successfully negotiated severe cuts on government spending in a way that will hurt workers the most out of any class: by kicking millions off of food and health benefits, cutting the IRS making it easier for the wealthy to evade taxes, and officially putting an end date to the current freeze on student loan payments. Senate leaders pushed this bill through to ostensibly to avoid a government default. The typically slow-moving Congress quickly funneled through the debt ceiling deal, much as it infamously funneled through a bill putting down a potential rail workers strike last year in record time.
A bad deal
As explained by The Debt Collective, which organizes working class debtors in the US, the codification of an end to the student debt payments pause, which will terminate the pause on September 1, will put millions of borrowers in a deeply precarious financial position.
As explained by @StrikeDebt, which organizes working class debtors in the US, the codification of an end to the student debt payments pause, which will terminate the pause on September 1, will put millions of borrowers in a deeply precarious position.https://t.co/5PzZ4zVc5x
— Peoples Dispatch (@peoplesdispatch) June 2, 2023
