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President Joe Biden at LBJ Library in Texas

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The White House announced the plan in a July 29 press release.

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Biden called on Congress to quickly establish term limits,the APreported, but thats a long shot.

It almost certainly wont happen with Biden in office because Republicans control the U.S. House.

Had the SCOTUS not killed it, those borrowers would be a lot better off financially right now.

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The ruling involved Chevron U.S.A., Inc. v. Natural Resources Defense Council, known as the Chevron deference.

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