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Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. Sen. Elizabeth Warren, D-Mass., left, and Senate Majority Leader Chuck Schumer, D-N.Y. Caroline Brehman/CQ-Roll Call, Inc via Getty Images
President Joe Biden supports canceling $10,000 in student loan debt per borrower.
Press Secretary Jen Psaki said he wants Congress to pass a bill and send it to his desk.
Congressional Democrats are urging Biden to forgive $50,000 per borrower through executive action.
President Joe Biden supports relieving some federal student loan debt to help tackle the economic crisis caused by COVID-19, but congressional Democrats are urging him to raise the bar.
Warning of the damage done by delays, Democrats forged ahead with the thorny process that would allow them to approve a bill with no Republican votes in Congress. Schumer and House Speaker
Nancy Pelosi, D-Calif., introduced a budget resolution, the initial step toward using the reconciliation process that requires only a majority vote to pass. The House aims to approve the measure this week.
The resolution instructs committees to draft a bevy of coronavirus aid measures included in Biden s proposal, such as $1,400 direct payments, a $400 per week federal unemployment boost through September, $350 billion in state, local and tribal relief, funds for Covid-19 vaccines and testing and rent and mortgage assistance. The instructions do not include a $15 per hour minimum wage, a Democratic priority that may not fit within restrictions governing reconciliation bills.
Joe Biden s Stimulus to Financially Vulnerable Will Provide Biggest Boost to Economy: Study
On 1/30/21 at 5:04 PM EST
A new analysis of President Joe Biden s $1.9 trillion stimulus plan found that the $400 billion in aid allocated to financially vulnerable households provides the largest boost to Gross Domestic Product (GDP).
Brookings Institution researchers divided the package into four categories based on how likely recipients are to spend the relief: a third stimulus check of $1,400; COVID-19 containment and vaccinations, aid to state and local governments, and increased federal spending; additional $400 per week in unemployment benefits and the extension of the pandemic unemployment programs; and aid to businesses.
Biden is lobbying GOP members to get on board with his $1.9 trillion stimulus, but Democrats say they will force it through alone if they have to Tom Porter President-elect Joe Biden speaks at The Queen theatre in Wilmington, Del., Wednesday, Jan. 6, 2021. Biden has called the violent protests on the U.S. Capitol an assault on the most sacred of American undertakings: the doing of the people s business. President Biden is pushing to pass a $US1.9 trillion stimulus deal in his first days in office. He has spoken of his openness to working for a bipartisan deal, but has a backup.