Can’t Cancel Your Own Debt Act of 2023

Bill: 118-hr-1234
Sponsor: full_name: Rep. Cole, Tom [R-OK-4]
Introduced: 2023-02-28
Policy area: Congress
Latest action: action_date: 2023-02-28
text: Referred to the House Committee on Education and the Workforce.

Summaries:
action_date: 2023-02-28
action_desc: Introduced in House
text: <p><b>Can't Cancel Your Own Debt Act of 2023</b></p> <p>This bill prohibits a Member of Congress from receiving student loan cancellation for time served in Congress or from a student loan program established or amended by an act of Congress, or set forth by an executive order or agency action, during the period in which the individual is serving as a Member.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 1234 IN THE HOUSE OF REPRESENTATIVES February 28, 2023 Mr. Cole (for himself, Mr. Babin , Mrs. Bice , Mr. Bost , Mr. Burgess , Mr. Calvert , Mr. Guthrie , Mrs. Hinson , Mr. Johnson of South Dakota , Ms. Letlow , Mr. Norman , Mr. Reschenthaler , Ms. Van Duyne , Mr. Womack , Mr. Carey , and Mr. Cloud ) introduced the following bill; which was referred to the Committee on Education and the Workforce A BILL To prohibit Members of Congress from receiving a financial benefit from certain student loan cancellation programs.

1. Short title This Act may be cited as the Can’t Cancel Your Own Debt Act of 2023 . 2. No student loan cancellation for Members of Congress (a) In general Notwithstanding any other provision of law, an individual who serves as a Member of Congress shall not be eligible, during or after such service— (1) for any service- or employment-based student loan cancellation for any time served as a Member of Congress; or (2) for student loan cancellation from any Federal program that is established or amended by an Act of Congress, or established or set forth by an Executive order or agency action, during the period in which the individual is serving as a Member. (b) Definitions For the purposes of this Act— (1) Agency action The term agency action has the meaning given such term in section 551 of title 5, United States Code. (2) Cancellation The term cancellation means cancellation, forgiveness, or assumption of the obligation to repay the student loan debt of an individual by the Federal Government. (3) Student loan The term student loan means any loan made to an individual (including a loan made to a parent on behalf of a dependent student) for expenses related to attendance or enrollment at an institution of higher education. (c) Application This Act shall apply to any individual who serves as a Member of Congress on or after the date of enactment of this Act.