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First major announcement since then, forgiving student loan debt for millions of americans up to $20,000 per borrower. and it's angering republicans and some democrats. hello, welcome, everyone. i'm sandra smith. another busy news day. >> john: i'm john roberts in washington. this is "america reports." we'll have the president's remarks as they happen during the next hour. republicans say the move will cost taxpayers billions of dollars and worsen an already historic inflation crisis. democrats say, though, that the plan does not go nearly far enough. calling for thousands more in loan forgive...

I know you're laughing because i know that you have heard as much from them behind the scenes publicly about this as they are hearing publicly from advocates on the left. they have been kicking this decision down the road for a long time. is this really d-day for student loans? >> for now it is. but i recall back in may when word started to trickle out that he was actually considering cancelling some student loan debt that president biden went out there and said in may that i'll make this decision in about two weeks. well, that two weeks has turned into several months now. but right now admini...

>> democrats and advocates are pushing for loan cancellations up to $50,000 per borrower. the white house says the president is considering extending the pause on student loan payments and possibly canceling up to $10,000 only for borrowers earning under $125,000 a year. a decision will be announced before the end of the month. let's bring in chief u.s. strategist for agf investments. nice to see you, greg. so the president has to decide not only what is fair for student borrowers but what is also fair for taxpayers. $10,000 forgiveness would still result in $321 billion for given in federal s...

Because he needs to keep himself at such a distance from these events. so what democrats and what white house strategists say is that the president will instead go after what he calls the extreme maga agenda, framing republicans as extremists and democrats as looking out for the american people, and american families through this new piece of legislation. >> we will see if that messaging works. kevin liptak, great to see you this morning. thank you. but there is one issue that millions of americans are waiting for president biden to take action on. and that is student debt. an estimated 45 m...

. fox news on sirius xm america is listening for giveaways to biden. white house is finalizing a student loan forgiveness plana that would reportedly wipe away ten thousand dollars in student loan i that per borrower for those making under one hundred and fifty grand a year. and earlier today the biden administration also wiped away five point eight billionon in schooloo loans for former corinthian college students, though that was a for profit college accused of predatory lending practices. so ask yourself why is the biden white house far left democrats? why len they pushing so hard to cancel...