Read on Twitter
A few people were confused by Biden's comments on student debt last night.
The president said he would not forgive $50k unilaterally, both b/c he was opposed to the idea and does not believe he has the authority "to do it by signing the pen." However, he also added that...
The president said he would not forgive $50k unilaterally, both b/c he was opposed to the idea and does not believe he has the authority "to do it by signing the pen." However, he also added that...
...he supported forgiving up to $10k. Some asked why the WH believed it could write off a lower amount of debt, but not $50K.
So I double checked with the WH. They said Biden was reiterating his support legislation canceling $10K of debt, not promising to use exec authority.
So I double checked with the WH. They said Biden was reiterating his support legislation canceling $10K of debt, not promising to use exec authority.
Small thing, but seemed worth clarifying.
As a side note, I am also trying to confirm exactly what he meant by "in this moment of economic pain and strain, that we should be eliminating interest on the debts that are accumulated." I assume he meant continuing to halt interest charges while payments are paused. But...
...perhaps it was something bigger. So, looking into it!
