This is the best summary I could come up with:

President Joe Biden fulfilled a long-awaited and much-discussed campaign promise on Wednesday, announcing the cancellation of $10,000 in student-loan debt for some borrowers.

"President Biden's student-loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their debt, and every American who chose a certain career path or volunteered to serve in our Armed Forces in order to avoid taking on debt," Senate Minority Leader Mitch McConnell wrote in a statement.

Biden has repeatedly slammed large corporations for paying little or nothing in federal income taxes, something he's attempted to change through proposals to raise the corporate-tax rate.

Shortly before Biden's White House remarks, Rep. Alexandria Ocasio-Cortez of New York — who has been one of the most forceful congressional advocates for full cancellation — tweeted that student-loan debt is "immoral."

Sen. Raphael Warnock of Georgia, who is in a tough reelection fight against Herschel Walker, a former NFL star, this fall, has pushed the administration to address student-loan reform since he joined the upper chamber after his 2021 runoff election.

"We all know the cost of higher education is crushing families, and that's why I've supported expanding Pell Grants, affordable community college, and loan forgiveness for those entering vital professions like nursing," he said in a statement.

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