As it has been highly anticipated, during a press conference this morning, Senate Majority Leader Chuck Schumer (D-NY), Sen. Elizabeth Warren (D-MA), Rep. Ayanna Pressley (D-MA), Rep. Alma Adams (D-NC), Rep. Ilhan Omar (D-MN), and Rep. Mondaire Jones (D-NY) reintroduced a resolution that calls on President Biden to cancel up to $50,000 of federal student loan debt.
Senator Warren was uncompromising in her demand. “Canceling student loan debt is the single most effective executive action that President Biden can take to kick start this economy,” she said. Evoking the Higher Education Act of 1965 which gives the president the authority to forgive student loan debt by issuing an executive order, Warren continued, “Canceling student loan debt is good for you whether you have student loan debt or not because it is good for our economy,” Warren continued. About 45 million of Americans currently carry about $1.7 trillion in student debt. Cancelling at least part of the debt was something Biden had campaigned on. Knowing the politics behind the student loan issue, it is unclear whether the president is still committed to the idea. You can read the article here. Lawmakers Call On Biden To Cancel $50,000 Of Student Debt Immediately