‘I’m going to get in trouble for saying this’: President-elect Biden disputes Democratic debt cancellation plan – By Aarthi Swaminathan (Yahoo) / Dec 24 2020
President-elect Joe Biden cast doubt on a popular Democratic idea involving executive action that would cancel up to $50,000 in federally-held student loan debt for roughly 43 million American borrowers.
“I’m going to get in trouble for saying this,” Biden told a meeting of news columnists on Wednesday, raising the Democratic argument that “the president may have the executive power to forgive up to $50,000 in student debt. Well, I think that’s pretty questionable. I’m unsure of that. I’d be unlikely to do that.”
Earlier this week, while introducing his nominee for Education Secretary, Miguel Cardona, Biden declared support for forgiving $10,000 in student debt across the board — through legislation passed by Congress.
“It’s a balancing act, but I’m optimistic that we can get a lot of the things that I’d like to do done,” Biden said on Wednesday. “I’ve spent most of my career arguing against the imperial presidency. We got three equal branches of government. I’m confident that there are a number of areas that are of such consequence that they go beyond the partisan boundaries.”
CONTINUE > https://www.yahoo.com/finance/news/biden-student-debt-loan-forgiveness-cancel-173246655.html
