Live Breaking News & Updates on Swing District Biden
Stay updated with breaking news from Swing district biden. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
prepare to resume federal student loan payments in januar. while he s set to an kel cancel billions of dollars. progressives they are not happy. they say this doesn t go far enough. critics say the move will penalize the responsible american who already paid off their loans by making them now foot the bill for those who haven t paid just yet. there are concerns of the handout will increase inflation and widen the wealth gap. let s look at the numbers. the plan is expected to give the $10,000 handout to those making less than $125,000 a year. that adds up very fast with one estimate putting it at $300 billion over the next ten years and that is on the low end. even still, that amounts to an additional $2000 for every single american taxpayer. karlie, the left says handout to the rich. they complain about tax cuts. make no mistake. this is a handout to the rich. we have the numbers. anywhere from 68% to 70% of loans are going to go to those in the top 60% of the income ....
first major announcement since then, forgiving student loan debt for millions of americans up to $20,000 per borrower. and it s angering republicans and some democrats. hello, welcome, everyone. i m sandra smith. another busy news day. john: i m john roberts in washington. this is america reports. we ll have the president s remarks as they happen during the next hour. republicans say the move will cost taxpayers billions of dollars and worsen an already historic inflation crisis. democrats say, though, that the plan does not go nearly far enough. calling for thousands more in loan forgiveness. reaction already mixed. the government shouldn t pay for it. if you go to school, you pay for it yourself. if you can t, get a scholarship. i think we can live with it. why not give the students a break, that s our future. if you go to school, you should probably pay for it. sandra: a california congressman will react in just moments. john: peter doocy on the north l ....
Freely, they need to pay off their loans just like every other american needs to pay off their mortgage or their small business loan or the loan they took to buy that pick-up truck that started their painting business or power washing business or carpentry business. no one is forgiving their loans no matter how much they are struggling in this economy. we shouldn t be asking hard working people in arkansas to pay off $20,000 each for families making a quarter million dollars. john: senator, when it comes to who has the authority to be able to actually affect a policy like this, not too long ago nancy pelosi was quite clear the president doesn t have the power to do this, that only resides in congress. so as a member of congress, are you going to say look, this has got to go through us, this can t be done through the power of the president s pen? john, nancy pelosi said that because she can read plain english and the law is fairly plain. the department of education may be able to en ....
Subsidies would help cushion the increase. this has been a problem for a long time. i think we are talking apples and oranges here. education has been skyrocketing before student aid became an issue. student aid became an issue starting for the most part during the great recession in 2008 and 9. so i mean sandra: what is this? yeah, i m in agreement with that. sandra: i want to be clear, we are awaiting this official announcement to go back, robert, to the point you suggested that a lot of these borrowers will not apply for this. the white house website says and has a question and answer on what the president is about to announce, what do i need to do in order to receive the loan forgiveness. that s the first answer of many bolded points, nearly 8 million borrowers may be eligible to receive relief automatically, relevant income data is already ....
Positions of leadership are doing? it s really outrageous to me, to watch this happen around the country and places like new york, and other states, and right here in california this movement by certain people to make 0 bail the law is ongoing, as we speak there are conversations going on in the state capitol which is right next to my county in sacramento where they are trying to put this into the law again, even though the voters rejected it in california, rejected 0 bail in 2020. this is bad policy, it s a get out of jail free card. people are getting really hurt, even murdered because of these policies and we just need to scratch it. this is not a good policy. all right. we ll see if the numbers now, now that we have some hard figures have any effect on other jurisdictions across the country. jeff, thank you for joining us, appreciate it. sandra: all new at 2:00, we await president biden s remarks ....