- Senators Elizabeth Warren, Chuck Schumer and Rafael Warnock want Biden to defer student loan payments, Politico said.
- They want one last chance to meet Biden and urge him to come up with an extensive bailout.
- Former Vice President Joe Biden has said he is not considering the $50,000 pardon recently requested by lawmakers.
Three Democrats want President Joe Biden to get as many student loans as possible. In other words, we urge you to wait for debt repayment.
politico report Senators Elizabeth Warren, Chuck Schumer and Rafael Warnock are asking Biden to delay the implementation of the loan forgiveness through enforcement action until they can arrange a meeting with Biden, according to sources familiar with the matter. According to Politico, the three congressmen want a last chance to push Biden as far as possible following the president’s remarks that Biden is not considering $50,000 in debt relief for federal borrowers.
“President Biden told the senator a few months ago that he wanted to talk to the senator on this matter,” Warnock told Politico. said
The three senators’ offices did not immediately respond to Insider’s request for comment.
Schumer, Warnock and Warren have consistently called for a $50,000 bailout, and have long argued that canceling student loans is something Biden can and should do using his executive powers. But Biden himself was not so sure. He promised to approve a $10,000 waiver during his campaign, but expressed hesitation about the power to pay off more student debt early in his tenure. Now he appears to believe he has the authority to enact widespread relief, but he recently told reporters that a decision on relief will be made in the coming weeks. obscurity How wide it will be, or whether it will be subject to income restrictions.
But, as Warren and her colleagues have argued, the more relief, the better. Data obtained from Warren’s office and recently provided to Insider show that paying off $10,000 student debt would eliminate a third of borrowers’ balances, and canceling $50,000 would put 72% of borrowers out of debt, or 30 million Americans. can be liquidated.
Warren said in a statement, “The more President Biden cancels, the more the racial wealth gap between borrowers closes and the greater the benefit to America’s economic future.” “This is the right thing to do.”