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Here’s how your taxes would change if Schumer’s call for $50,000 student loan forgiveness is adopted

Source: https://cnbc.com/2020/12/08/heres-the-tax-impact-if-schumers-call-for-student-debt-cut-is-adopted.html - Dec 8, 2020

Senate Minority Leader Chuck Schumer, D-N.Y., has called on President-elect Joe Biden to forgive up to $50,000 for student loan borrowers.

“Ahead of the new administration, the four of us are calling on the president of the United States to take executive action to administratively cancel up to $50,000 of student loan debt, for federal student loan borrowers,” Schumer said.

He spoke in New York City on Monday, where he was joined by New York Democratic Congressmen-elect Mondaire Jones, Ritchie Torres, and – via an iPad – Jamaal Bowman.

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Category: General Business