neil: demand all they want. the supreme court has ruled against the president s loan forgiveness program. a lot of folks not happy about that. there s options to make the payments more affordable or come up with some other solution. we re expecting to hear from the president of the united states on that. welcome. i m neil cavuto. shannon bream has had a busy day. tell us what s going down. let s talk about the student debt relief program that the supreme court 6-3 said cannot move forward. the chief justice had this to say. that s what the court found here. they said essentially they re waiving away $430 billion in executive loans. dissenting justice kagan said the statute does give the secretary broad authority to relieve a national emergency s effect on borrower s ability to relieve. the secretary did that. clearly the two sides saw this differently. the bottom line strawberry that program, which the president had expressed it being illegal, the speaker of the house s
we re almost at 10 million jobs, almost at 10 million jobs since i took office. that s the fastest job growth in history. today there are more people working in america than before the pandemic began. in fact, there are more people working in america than at any point in american history. cnn business correspondent rahel solomon joins me now. put this into context. what do these numbers actually mean? not only did these numbers surprise to the upside, but it was broad based across the economy. when you look at the report line after line, industry after industry saw positive job growth. leisure and hospitality the strongest with 96,000 added for the month of july. professional services, health care, government, all adding jobs. we know wages increased about 5.2% over the last year and wage gains are something the fed is going to be watching closely as it tries to fight inflation. more on that in just a moment. as you pointed out, the unemployment rate now ticking lower to
here to take any questions as well. mr. secretary? thank you. good afternoon. in the last 48 hours, our country has been setback in terms of providing equity and access in higher education. as you heard from the president today the supreme court ruled against more than 40 million working families. let s be clear about who would have benefitted from the president s student debt relief plan. nearly 90% of relief would have gone to borrowers making less than $75,000 a year. 20 million americans would see their debts drop to zero with 20 million more seeing lower payments. this would mean fewer borrowers following in to default when the pause ends. we re not taking about the millionaires that benefitted from the tax give-away. we re talking about lower and mim income families recovers
i m going to try to put this in english. it s effectively a tax on hedge funds and private equity. i know you plan to vote yes, but are you disappointed that that provision, which is aimed at taxing wealthy americans, is no longer in this bill? dana, it s good to be with you. and i strongly supported getting rid of the carry interest loophole. it s a tax give away to big hedge fund owners. but we did replace it with a 1% tax on stock buybacks, and stock buybacks overwhelmingly benefit very wealthy people and ceos as well, including a lot of people who are overseas and own stock in u.s. corporations, which actually raises more money than closing the carried interest loophole. so i support both of these measures. i hope sometime down the road we can come back and get rid of the carried interest loophole as
the democrats have control and had control in 2010 of the debt limit. what is different now and why doesn t the president encourage democratic leaders to do this on their own and diffuse that crisis? why aren t republicans for doing what they ve done dozens of times in the past and many of them did three times during the trump administration including after they passed the $2 trillion unpaid for tax give-away to corporations and the wealthiest americans? they were fine doing it then. why now not? that s the fundamental question i send back. can he intervene and stave this off? the president wants to maintain the full faith and credit of the united states. our view is this should be done in a bipartisan way and should be a bipartisan path forward. following up on the fda. you said there was a large consensus of doctors and advisers that felt like the