May 22, 2025 | WASHINGTON, D.C. — Early this morning, House leaders passed their reconciliation bill to deliver $4.5 trillion in tax cuts to the richest Americans and largest corporations by slashing lifesaving healthcare, food assistance, education, and other critical programs working families rely on.
In response, SBPC Policy Director Aissa Canchola Bañez released the following statement:
“As most of the nation slept, House Republicans passed their billionaire tax giveaway bill, robbing American families and communities of critical education aid, lifesaving healthcare, and food assistance. This cruel bill is the ultimate betrayal and abandons all promises made by President Trump and his allies on the Hill to lower costs for everyday Americans. We call on every member of the United States Senate to reject these harmful cuts and put their constituents before billionaires.
“Instead of making college more affordable, this bill will slash critical financial aid programs, including gutting assistance for nearly two-thirds of all Pell Grant recipients, and will jack up monthly student loan bills for millions of working families with student debt already struggling to stay on track.
“With this callous bill, House leaders are making clear who they work for—billionaires, NOT American families. The relentless attacks on students and working families to deliver trillions in tax cuts to Elon Musk and his billionaire buddies must stop. Students and families deserve better.”
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About Student Borrower Protection Center
Student Borrower Protection Center (SBPC) is a nonprofit organization focused on eliminating the burden of student debt for millions of Americans. We engage in advocacy, policymaking, and litigation strategy to rein in industry abuses, protect borrowers’ rights, and advance racial and economic justice.
Learn more at protectborrowers.org or follow SBPC on Twitter @theSBPC.