Tag Archives: student loan debt

Some States Could Tax Forgiven Student Loan Debt

college graduation

Elaine S. Povich Indiana will apply state income taxes to federally forgiven student loans, joining North Carolina and Mississippi, diminishing the benefit to borrowers who live in those states. A handful of other state revenue agencies are considering doing the same. While President Joe Biden’s order last month forgiving student …

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After $1.9 Trillion Giveaway to Rich, McConnell Calls Debt Relief for Working Class ‘Slap in the Face’

Sen. Mitch McConnell

Five years after Senate Minority Leader Mitch McConnell aggressively pushed a $1.9 trillion tax cut package that disproportionately benefited corporations and the wealthiest Americans, progressives on Wednesday were uninterested in his complaints about President Joe Biden’s cancellation of some student debt for working Americans. “You should sit this one out,” …

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Report: Biden To Forgive $10,000 In Student Debt Per Borrower

Biden

President Joe Biden is planning to forgive $10,000 in student debt per borrower, a central campaign promise that would relieve debt for millions of Americans, The Washington Post reported. Biden’s proposal, however, is still not finalized. The announcement of the president’s plan to address the $1.7 trillion currently owed to the federal …

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Report: Biden Open To Canceling Some Student Loan Debt

college graduation

President Joe Biden reportedly said he’s considering canceling some student loan debt in a private meeting with House Democrats. Two sources told NBC News that the president received requests from the Congressional Hispanic Caucus members to extend the pause on student loan payments and cancel at least $10,000 in student loan …

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80+ Democrats Urge Pres. Biden to Deliver on Promise to Cancel Student Loan Debt

United States Senator Elizabeth Warren (D-Mass.), Senate Majority Leader Charles E. Schumer (D-N.Y), and United States Representatives Pramila Jayapal (D-Wash.), Ayanna Pressley (D-Mass.), Ilhan Omar (D-Minn.), and Katie Porter (D-Calif.) led more than 80 Senate and House colleagues calling on the Biden administration to release the Department of Education’s (ED) …

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Democrats Reintroduce Bill To Cancel $50,000 In Student Loans

On Thursday, Senators Elizabeth Warren (D-MA) and Chuck Schumer (D-NY), along with Representatives Ayanna Pressley (MA-07), Ilhan Omar (MN-05), Maxine Waters (CA-43), Alma Adams (NC-12), Jamaal Bowman (NY-16), Mondaire Jones (NY-17) and Ritchie Torres (NY-15) led their colleagues in reintroducing their bicameral resolution outlining a bold plan for President Biden to …

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