Warren Presses Biden to Enact 'Effective Economic Stimulus' With Single Pen Stroke: Cancel Student
Debt
"All on his own," Warren said during a hearing with Fed chairman Jerome Powell, the incoming president "will have the ability to administratively cancel billions of dollars in student loan debt."
by Kenny Stancil, staff writer
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In an exchange with Federal Reserve Chairman Jerome Powell during Tuesday's Senate Banking Committee hearing, Sen. Elizabeth Warren pushed for President-elect Joe Biden to cancel student loan debt via executive authority, which the Massachusetts Democrat said would provide much-needed economic relief to millions of households, thus contributing to a stronger recovery in the aftermath of the coronavirus crisis.
As Common Dreams has reported, pressure is mounting on Biden to immediately cancel student loan debt upon taking office in January—a move that is within his power, popular with 60% of U.S. voters, and that progressives say is a clear-cut way to improve working people's lives in the midst of widespread financial hardship.
Warren on Tuesday made the case directly to Powell.
"All on his own, President-elect Biden will have the ability to administratively cancel billions of dollars in student loan debt using the authority that Congress has already given to the Secretary of Education," Warren said during the hearing.
https://www.commondreams.org/news/2020/12/01/warren-presses-biden-enact-effective-economic-stimulus-single-pen-stroke-cancel
