Biden, Democrats hit the road to show how new infrastructure law will help Americans
President Joe Biden hit the road Tuesday a day after he signed the $1.2 trillion infrastructure bill into law, visiting a New Hampshire bridge in disrepair. "This is not something abstract," Biden said, standing in front of a decrepit bridge in a rural part of the Granite State and talking about the dangers of bridges collapsing, preventing school buses, fire trucks and other vehicles from taking lengthy detours. "This is real. This is real stuff.
The charge for an easing on student loans gained further momentum as Senate Majority Leader Chuck Schumer made a renewed call for the $50,000 loan forgiveness, in an op-ed published in USA Today on Tuesday. © J. Scott Applewhite/Associated Press Senate Minority Leader Chuck Schumer (D-N.Y.) said the GOP leader's "statements on the debt ceiling are shameless, cynical and totally political." Schumer looks over his notes as he talks to reporters about his plans for a procedural vote tomorrow on the bipartisan infrastructure deal senators brokered with President Joe Biden at the Capitol in Washington, Tuesday, July 20, 2021.
The call follows the publishing of a letter released last Friday where party leaders, headed by Sena Elizabeth Warren, Representative Ayanna Pressley, and Representative Joe Courtney called on President Joe Biden to extend the pause on student loan payments, originally implemented at the start of the pandemic, until next spring.
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And Democrats may blow campaign promises and give the rich a big tax cut.Here's what we're talking about:
With a recent survey by Student Debt Crisis finding that 75 percent of borrowers report the payment pause as being "critical to their financial wellbeing," Democrats remain focused on the issue, which impacts roughly 43 million Americans who owe nearly $1.7 trillion in debt.
"We strongly believe the president should take these two steps," Schumer, a Democrat from New York, wrote. "With the stroke of a pen, he can follow through on his promise and bring life-changing relief for tens of millions of Americans struggling with student loan debt."
Racial inequality within the student loan crisis stood out as a focus of Schumer's article. In it, he drew on data from the Brookings Institution that found Black graduates can often owe nearly double what their white counterparts owe. He also cited a study from the Education Department study that found the typical Black student might owe more on their federal loans than they initially borrowed—as much as 12 years after starting their school.
Biden's political standing fuels Democratic worry about 2024
COLUMBUS, Ohio (AP) — It was supposed to be a moment of triumph for Joe Biden. The Democratic president had just signed into law the most significant infrastructure package in generations. And he had done it by bringing Democrats and Republicans together, just as he promised during last year's campaign. But when Biden arrived in New Hampshire last week to promote the $1 trillion package at the foot of a crumbling bridge, not all of his VIP guests were in the mood to celebrate. © Provided by Associated Press FILE - President Joe Biden speaks before signing the $1.
As America nears the 2022 election season, Democrats face significant challenges to their slim majorities in both the House and Senate. A poll from Vox and Data for Progress found more than half of voters support canceling $50,000 of student debt. © Drew Angerer/Getty Images WASHINGTON, DC - FEBRUARY 4: Senate Majority Leader Chuck Schumer (D-NY) speaks during a press conference about student debt outside the U.S. Capitol on February 4, 2021 in Washington, D.C. A new survey from the advocacy group Student Debt Crisis found that 9 in 10 borrowers are not prepared to start paying off their loans again on October 1. Drew Angerer/Getty Images
Through a 1965 provision within the Higher Education Act called "compromise and settlement" authority, the president has the power to cancel portions of student debt. Nonetheless, in a CNN town hall, Biden said: "I will not make that happen," adding "I am prepared to write off the $10,000 debt but not $50 [thousand], because I don't think I have the authority to do it."
While cancelling the debt may take more work, the pausing of the payments will continue to be a priority. Warren made this sentiment clear in the recent letter:
"President Biden should cancel student debt, but in the meantime he should extend the payment pause so that borrowers aren't hurt," she said.
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NDAA, debt ceiling, government funding: Here's what's left for Congress to address in 2021 .
Both chambers of Congress will be working to try to avoid a government shut and default, as well approve a must-pass national security package.Both chambers of Congress will be working in overdrive to try to avoid a government shut and default, both of which would be catastrophic for the economy, which has already been grappling with the repercussions of the COVID-19 pandemic.