the doj has until tomorrow to respond, expert analysis on why this might backfire for the former president, just ahead. but first, democrats ended primary night last evening feeling good about their winds, and surprisingly good about their momentum heading into november. in new york, voters elected a democrat and a special house race in a notorious swing district, just two months after the supreme court overturned roe v. wade. the timing on that would not appear to be coincidental. that race offers signs that the democratic electorate is as motivated as ever by the fight for abortion rights. to be fair, democrats can t also credit some of their newfound positivity two major recent victories from the biden administration. from the first gun safety bill in decades, to the chips act. to legislation on burn pits, to the inflation reduction act. biden s signature health care and climate bill. the winds have been piling up at 1600 pennsylvania avenue. today, brought another policy
they need all the help they can get. and then you owe somebody something. biden found that out the hard way. after the far left backed his campaign, old joe was in their pocket. and, today, biden paid them back. when i campaigned for president i made a commitment we will forgive $10,000 in outstanding federal student loans. jesse: joe just cut a $300 billion check to his base. liberal grad students making six figures just got paid off. but joe lied and said these are working class people. both of these targeted actions are for families who need it the most. working and middle class people, hit especially hard during the pandemic. jesse: we read the fine print and a family who graduated from harvard law making a quarter million dollars a year gets bailed out by biden. biden s prescribing harvard law grads with joe the plumber s money. because, more than half of the student loan debts owned with people with graduate degrees. you know, the people that spent their 20 s in s
intense debates inside the white house, tons of pressure from groups. there s three key elements here. the details are very important. there are income caps to actually qualify for this loan cancellation. if you are an individual who makes under $125,000 a year or a family that makes under $250,000 a year and you have federal loans, the president is going to basically sign the ability to cancel $10,000 of those loans. there s another element that s important. $20,000 could be canceled for any pell grant recipients with federal loans. that s incredibly important as the administration has worked continuously over the course of the last several months to target this relief and target this cancellation towards lower and middle income individuals. the administration officials believe roughly almost all of pell grant recipients make $60,000 or less. they would all qualify. when you look at the loan cancellation, it would affect about 43 million borrowers if they took advantage of w
price tag of $300 billion and that that s a low estimate. taxpayers like you and me will fit the bill. here is the president. i believe my plan is responsible and fair. i find it interesting how some of my republican friends who voted for those tax cuts and others think we shouldn t be helping these folks. the outrage over helping working people with student loans is simply wrong to. it s unfair to people who paid the student loads or chose not to take out loans? is it fair to people who do not own multi-million-dollar business is seeing these guys get tax cuts? is that fair? what boat people who struggle to pay their loans and no others don t have to? the costly cancellation of debt sure to unleash a tidal wave of anger from americans who already paid off their loans and those who never went to college in the first place. senator elizabeth warren claims this will help everyone. because of student loan debt there are many people who do not move out of their mom s
plus, 700 and counting, that s the latest number of classified documents that donald trump had at mar-a-lago. we ll explain why there s likely many more to come. also ahead, president biden is expected to announce a decision today on a controversial plan that could impact millions of americans. good morning and welcome to way too early on this wednesday, august 24th. i m sam stein, in for jonathan lemire. results are pouring in this morning after key primaries in new york in one of the most closely-watched races this primary season, nbc news projects that congressman jerry nadler has won the democratic primary for new york s 12th congressional district. he defeated his fellow encouple bantd, maloney. third candidate in the race was patel, former staffer for president obama who ran on the platform of generational change. and new york s 17th district, democratic congressman sean patrick maloney beat back a fierce primary challenge from progressive state senator biaggi