Missouri Attorney General Andrew Bailey announced that the U.S. District Court for the Eastern District of Missouri granted his motion to block what he called President Biden’s latest illegal student loan cancelation scheme.
Bailey said that Congress never gave Biden the authority to saddle working Americans with half-a-trillion dollars in other people's debt and that this is a huge win for the Constitution.
Bailey told FOX Business exclusively that it's a huge win for the rule of law.
"The Constitution makes clear that Joe Biden does not get to thwart Congress when it suits his political agenda. The Constitution will continue to mean something as long as I'm Attorney General," Bailey said.
Bailey said his lawsuit targeted what the federal government calls the "SAVE" Plan, which in reality would have cost Americans $475 billion – $45 billion more than its last unlawful student loan plan. The Court’s order blocks the student loan cancellation plan from taking effect on July 1.
"I will not stand by while Joe Biden attempts to illegally saddle working Missourians with Ivy League debt," Bailey continued.
MINNESOTA MAYOR THANKS PRESIDENT BIDEN FOR CANCELING HIS STUDENT LOANS
The United States Supreme Court ruled in favor of Bailey’s previous challenge to what the AG called Biden's unilateral and unlawful wealth transfer of hundreds of billions of dollars in student loan debt.
In a 6-3 decision, Bailey said the Court struck down Biden’s plan as unconstitutional, citing the massive $430 billion-plus impact on the federal budget without express authority from Congress.
The Court held that Missouri’s student loan servicing company, MOHELA, was an arm of Missouri’s state government, and therefore, granted the states standing to challenge the student loan plan.
WHAT TO KNOW ABOUT BIDEN'S LATEST ATTEMPT AT STUDENT LOAN CANCELLATION
"During my time in the United States Army, I swore an oath to protect the Constitution against enemies both foreign and domestic. I took a similar oath to uphold the Constitution when I was sworn in as Attorney General," Bailey said. "Only Congress has the power of the purse, not the President. Today’s ruling was a huge win for the rule of law, and for every American who Joe Biden was about to force to pay off someone else’s debt."
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Joining General Bailey in filing suit were the attorneys general of Arkansas, Florida, Georgia, North Dakota, Ohio and Oklahoma.
