There’s something of a political showdown going on in Washington, D.C., over the impending necessity to raise the debt ceiling.

Last week, House Speaker Kevin McCarthy revealed the Republican debt ceiling plan — and it was met with immediate derision from President Joe Biden.

It’s all adding up to a potential standoff over the debt ceiling this summer. Without Congress raising the debt ceiling, the United States could start defaulting on its debt as soon as June.

The McCarthy plan includes $4.5 trillion in cuts — including the elimination of Biden’s proposed student loan forgiveness plan, which is awaiting its fate at the U.S. Supreme Court now. The court heard arguments in February on a suit to stop the program, which would cancel $400 billion in student debt.

The Show spoke more about it with U.S. Secretary of Education Miguel Cardona.

U.S. Department of Education

U.S. Secretary of Education Miguel Cardona delivers remarks at the Digital Equity Summit on Sept 28, 2022.

More stories from KJZZ

• Navient settlement to cancel student loan debt for thousands of Arizonans
• Advocate says Biden's student loan forgiveness is a good first step