Opinion of the Court
Secretary would enjoy virtually unlimited power to rewrite the Education Act. This would “effec[t] a ‘fundamental revision of the statute, changing it from [one sort of] scheme of … regulation’ into an entirely different kind,” West Virginia, 597 U. S., at ___ (slip op., at 24) (quoting MCI, 512 U. S., at 231)—one in which the Secretary may unilaterally define every aspect of federal student financial aid, provided he determines that recipients have “suffered direct economic hardship as a direct result of a … national emergency.” 20 U. S. C. §1098ee(2)(D).
The “ ‘economic and political significance’ ” of the Secretary’s action is staggering by any measure. West Virginia, 597 U. S., at ___ (slip op., at 17) (quoting Brown & Williamson, 529 U. S., at 160). Practically every student borrower benefits, regardless of circumstances. A budget model issued by the Wharton School of the University of Pennsylvania estimates that the program will cost taxpayers “between $469 billion and $519 billion,” depending on the total number of borrowers ultimately covered. App. 108. That is ten times the “economic impact” that we found significant in concluding that an eviction moratorium implemented by the Centers for Disease Control and Prevention triggered analysis under the major questions doctrine. Alabama Assn., 594 U. S., at ___ (slip op., at 6). It amounts to nearly one-third of the Government’s $1.7 trillion in annual discretionary spending. Congressional Budget Office, The Federal Budget in Fiscal Year 2022. There is no serious dispute that the Secretary claims the authority to exercise control over “a significant portion of the American economy.” Utility Air Regulatory Group v. EPA, 573 U. S. 302, 324 (2014) (quoting Brown & Williamson, 529 U. S., at 159).
The dissent is correct that this is a case about one branch of government arrogating to itself power belonging to another. But it is the Executive seizing the power of the Legislature. The Secretary’s assertion of administrative authority has “conveniently enabled [him] to enact a program”
