On 2/15/2024, The Biden administration is unveiling a proposal that would expand student loan forgiveness. “We see there are families across the country that’s crushed by student debt and that shouldn’t be,” Karine Jean-Pierre White House Press Secretary said during a briefing. The announcement comes after the Supreme Court rejected President Joe Biden’s previous attempt to wipeout more than $400 billion in student debt last year. “We believe that this will stand up in court,” Jean-Pierre said. “But it’s not going to stop the president trying to figure out more ways, more ways to continue to make sure we give relief to borrowers across the country.”
According to the Department of Education, the proposal would outline factors that could be used to identify financial hardship, including a borrower’s student loan balance and required payments relative to household income. The new proposal crafted by the Department of Education focuses on several categories of borrowers who could get some or all of their loans canceled. The proposal will have to go through a rulemaking process that is expected to take months, and it will almost certainly face a legal challenge.
Ford CEO Says Company Will Rethink Where It Builds Vehicles. last year, Ford’s highly profitable factory in Louisville, Kentucky, was the first truck plant that the UAW shut down with a strike. Farley said as the company looks at the transition from internal combustion to electric vehicles, “we have to think carefully about our (manufacturing) footprint.”
White House press secretary Karine Jean-Pierre said President Joe Biden believes in making goods and creating jobs in the U.S. “We’re going to do everything we can to make sure that continues,” she said. Biden, she said, also believes that workers have the right to collective bargaining to get better wages and benefits like the UAW did. “That is something that the president is always going to speak for and is going to stand up for” she said. “You hear him say this all the time, unions build the middle class, and he believes that.”
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KJP: New $100B student debt forgiveness will stand up in court. Ford Rethink Where It Builds Cars