Just so I and others tax payers can pay for their debt, not mine. Wonderful idea right.... This isn't charity. Nothing is "FREE". Also really helps out with inflation as well. /end sarcasm
Don't forget a vast majority of PPP loans were forgiven...
Sorry wasn't for the PPP loans either or shutting down the country, etc.. That is another story though.
This thread is coming very close to being infused with politics and that's not going to happen.
If your opinion is so tied with your political views, find a different thread
It will make it way to supreme court likely as doubt he can do this by executive order, but that is what the supreme court will be deciding if they hear the case which I suspect they will. I question whether he can do this with out the house as they control the check book hence likely to supreme court.
Whats amazing is that Thomas Jefferson made the Louisiana purchase with an executive order.
This article discusses which states have announced that they plan to tax student loan forgiveness -- this will be subject to change in the coming months, as states are reviewing, some may pass relevant legislation, etc..
At the federal level however there will be no taxation on this student loan forgiveness.
More information here, including FAQs:
Application for forgiveness is now live at: https://studentaid.gov/debt-relief/application/
You can apply to request forgiveness through Dec. 31, 2023