Sen. Bernie Sanders (I-VT) on Monday will propose legislation canceling all $1.6 trillion worth of U.S. student debt, according to a report.
The 2020 White House contender will unveil the bill alongside Congressional Progressive Caucus co-chair Rep. Pramila Jayapal (D-WA) and Rep. Ilhan Omar (D-MN), per the Washington Post. The plan goes further than a signature proposal by Sen. Elizabeth Warren (D-MA) as the two jockey for support from the party’s progressive base in the Democrat presidential primary.
Sanders’ effort on student loans, entitled the College For All Act, would cancel $1.6 trillion of debt, claiming to save the average borrower roughly $3,000 a year. It is estimated to cost a staggering $2 trillion and be paid for by a series of “Wall Street” taxes on such things as stock trades, bonds, and derivatives, according to the proposal.
Richard Cox derails sex offender case, once again
Biden accuses Trump of erasing history and squandering US leadership role on global stage: ‘Dark days’
ICE blasts Washington mayor over directive restricting immigration enforcement
Dem Washington House majority leader apologizes for being ‘impaired’ during budget hearing
Man accused of spraying anti-ICE graffiti at Oklahoma Capitol is registered child sex offender; charges filed
Hegseth bans military from attending Princeton, Columbia, other elite universities: ‘Wokeness and weakness’
Trump picks up Whataburger for Air Force One and jokes about being poisoned after Texas speech
Luigi Mangione escapes federal death penalty after federal prosecutors decline to appeal judge’s ruling
Trump says he plans to order federal ban on Anthropic AI after company refuses Pentagon demands
DHS funding stalemate thaws as White House sends Democrats ‘serious’ counteroffer
‘The Earth Shook’: Geologists Say They Have Confirmed Earthquake Around Time Of Jesus’ Death as Quoted in Scripture
Fox News True Crime Newsletter: New Nancy Guthrie video, Caleb Flynn’s charges, missing mom arrested
Curriculum Standards Should Mandate that Teachers Teach the Truth About Socialism
BREAKING: Bill Clinton Drops Bombshell Statement in Epstein Testimony – Helps Exonerate Trump Completely
ICE arrests illegal immigrant training as Pennsylvania corrections officer suspected of rape
Warren’s plan, which she has suggested in a Medium post, will be introduced as legislation, would be paid for by imposing a 2 percent fee on fortunes greater than $50 million, a wealth tax designed to target the nation’s top 0.1 percent of households. Warren projects the levy would raise $2.75 trillion over 10 years, enough to pay for a universal child-care plan, free tuition at public colleges and universities, and student loan debt forgiveness for an estimated 42 million Americans — with revenue left over.
By forgiving all student debts, Sanders said the proposal addresses an economic burden for 45 million Americans. The key difference is that Warren’s plan considers the income of the borrowers, negating $50,000 in debt for those earning less than $100,000 per year and affecting an estimated 42 million people in the U.S.
“This is truly a revolutionary proposal,” Sanders said in a statement to the Post. “In a generation hard hit by the Wall Street crash of 2008, it forgives all student debt and ends the absurdity of sentencing an entire generation to a lifetime of debt for the ‘crime’ of getting a college education.”
Story cited here.
