; Whereas broad student debt cancellation would provide a boost to our struggling economy through a consumer-driven economic stimulus, greater home-buying rates and housing stability, expanded access to more affordable financial products including car loans and mortgages, higher college completion rates, and greater small business formation; Whereas while President Donald J. Trump’s Memorandum on Continued Student Loan Payment Relief During the COVID–19 Pandemic, issued August 8, 2020, was extended until January 31, 2021, millions of borrowers continue to experience unprecedented economic insecurity, face one of the toughest job markets in recent history and will continue to need long-term relief; Whereas more than 100 community, civil rights, consumer, and student advocacy organizations have urged student debt cancellation for all borrowers in response to the COVID–19 pandemic public health and economic crises; Whereas Congress has already granted the Secretary of Education the legal authority to broadly cancel student debt under section 432(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1082(a) ), which grants the Secretary the authority to modify, … compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including any equity or any right of redemption ; Whereas the Department of Education has reportedly used this authority to implement relief for Federal student loan borrowers during the COVID–19 pandemic; and Whereas, on June 29, 2020, President Donald J. Trump, with the support of Secretary of Education Betsy DeVos, vetoed H.J. Res. 76 Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to Borrower Defense Institutional Accountability , blocking a resolution that passed Congress with bipartisan support to overturn a Department of Education rule that makes it harder for defrauded Federal student loan borrowers to see their loans discharged: Now, therefore, be it