The U.S. Supreme Court is expected to rule by the end of June on a Biden administration plan that would forgive up to $20,000 in student loans for Americans with individual incomes of less than $125,000. However, Congress has acted today to block Biden's student debt relief program before the court issues its decision.

The U.S. Senate on Wednesday decided to proceed with a vote today on a House resolution that would repeal the debt relief plan. Today's 52-46 vote to pass the legislation is considered largely symbolic because President Biden has promised to veto the legislation if it does pass. The House passed the bill along party lines last week, although two Democrats voted with Republican lawmakers.

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