The White House is gearing up to roll out its plan to alleviate student loan debt, and Republicans are doing everything they can to shut it down.
“People can start to finally crawl out from under that mountain of debt to get on top of their rent and utilities, to finally think about buying a home or starting a family or starting a business,”
at the White House in remarks detailing the plan. “And by the way, when this happens, the whole economy is better off.”That amount is still arguably kind of cheap compared to, say, the annual defense budget, but to Biden’s credit, it’s nonetheless historical. More importantly, it’s designed to benefit Black people who hold student loan debt — people who are already bombarded by other systemic social and economic disparities.
Biden’s plan to forgive at least $20,000 in individual debt may not cure everyone’s financial woes, but it will change so many lives for the better — as long as it actually works out as designed.a preview of the application for people with federal loans who qualify for Biden’s plan, but there is reason to worry about how this rollout will go.hat declaration is now the subject of a lawsuit seeking to stop debt forgiveness from happening.
“By creating and implementing a federal program with an improper racial motive, Defendants violated the Constitution’s guarantee of equal protection of the laws, which among other things, prohibits federal spending based on race,”The plaintiffs’ stated goal is to promote “individual freedom and citizen responsibility; limited government that is fiscally responsible, transparent, and accountable to the people; and economic policy that encourages free markets.
That’s Republican jargon for “tax cuts and write-offs for the wealthy are cool, but poor people need to stop looking for government handouts and get stock tips.”with the same goal of blocking the debt relief plan from going into effect ― their argument being that it’s “patently unfair,” and that anyway Biden lacks the authority to execute it.
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