Today, in Biden v. Nebraska, the Supreme Court ruled that President Biden’s $430 billion loan forgiveness plan is illegal because not authorized by Congress under the 2003 HEROES Act. It also ruled that, at least one of the plaintiffs, the state of Missouri, has standing to sue. Chief Justice John Roberts wrote the majority opinion, in a 6-3 split along ideological lines. He concludes that the plan is unauthorized under the text of the HEROES Act and also runs afoul of the “major questions” doctrine.
In my view, this decision is correct on both standing and the merits. It is an important step towards curbing executive abuse of emergency powers and executive raids on the Treasury for purposes not authorized by Congress.
In the companion case, Department of Education v. Brown, the Court unanimously (and correctly, I think) ruled that the plaintiffs lack standing.
I will have much more to say about this case later in the day, including in a forthcoming article for CNN.
I previously outlined my views on the merits here, and on standing here, here, and here.