Politics
Biden’s Student Debt Relief Plan Blocked by Courts
(CTN News) – Legal challenges to President Joe Biden’s student debt reduction attempts have resurfaced, and recent verdicts are negative for his new repayment plan.
On Monday evening, district courts in Kansas and Missouri blocked sections of the new SAVE income-driven repayment plan, which was established last summer to provide borrowers with more reasonable payments and a shorter deadline for loan forgiveness.
The first lawsuit was filed in March in Kansas by 11 GOP state attorneys general, while the second was filed in April in Missouri by seven GOP state attorneys general. In both cases, the plaintiffs asked the courts to prohibit the SAVE plan and the loan forgiveness that comes with it, claiming that the relief exceeds the administration’s power.
The district court opinions issued on Monday were different, but both dealt a blow to the SAVE plan. Kansas Judge Daniel Crabtree ordered that new SAVE measures, such as decreased monthly payments, cannot be adopted while the legal process moves forward.
Impact on Student Debt Borrowers
Missouri Judge John Ross found that the plan’s provision to eliminate student debt for students with original sums of $12,000 or fewer, who qualified within 10 years, is now also barred.
Education Secretary Miguel Cardona decried the rulings on Monday, stating that “the Department of Justice will continue to vigorously defend the SAVE Plan.”
“Republican elected officials and special interests sued to block their own constituents from being able to benefit from this plan – even though the Department has relied on the authority under the Higher Education Act three times over the last 30 years to implement income-driven repayment plans,” Cardona wrote.
“While we continue to review these rulings, the SAVE plan still means lower monthly payments for millions of borrowers – including more than 4 million borrowers who owe no payments at all, and protections for borrowers facing runaway interest when they are making their monthly payments,” said the attorney general.
Here’s what borrowers need to know about the verdicts.
Borrowers with student loans who have previously enrolled in SAVE can continue paying the payments outlined in the plan. However, the additional measures slated to take effect on July 1 — such as halving undergraduate borrowers’ payments and providing forgiveness credit for periods of deferment and forbearance — have been blocked.
Here’s why. Kansas’ Crabtree decided in favor of the attorneys general, citing the SAVE plan’s monthly payment cap and shorter forgiving period as “overreaching any generosity Congress has authorized before.”
However, Crabtree determined to keep SAVE components that had already gone into effect since the plaintiffs failed to demonstrate how they were harmed by parts of the plan that were already in existence.
For example, in June 2023, the Education Department disclosed its proposal to cap monthly payments and a shorter period for forgiveness, giving attorneys general time to fight the plan.
“All of this is to ask why: if these parts of the SAVE Plan promised an irreparable harm to plaintiffs, why didn’t they move to enjoin the SAVE Plan before they took effect?” Crabtree wrote.
However, with regard to the new SAVE measures slated to take effect on July 1, Crabtree decided that the plaintiffs succeeded in demonstrating injury because there was no delay in contesting the plan’s unimplemented elements, and any future remedies would be irreversible.
Rather than reversing or changing any SAVE provisions that have already been implemented, Crabtree chose to freeze any additional measures that have yet to be implemented until the court renders a final ruling.
While thousands of students have already received student loan forgiveness through the SAVE provision, which eliminates debt for borrowers with original sums of $12,000 or less, no new borrowers will be eligible for relief for the time being.
Missouri’s Ross issued a different ruling on SAVE. Missouri’s contention that the plan will hurt student-loan firm MOHELA due to reduced revenue has standing, considering the Supreme Court had rejected Biden’s first attempt at sweeping debt relief last summer.
Regarding the fate of SAVE, Ross concluded that while SAVE’s previously implemented components can continue, any future student loan forgiveness through the plan is prohibited.
He wrote that Congress did not account for the scope of loan forgiveness under SAVE, and as a result, the attorneys general have “a ‘fair chance’ of success on the merits on their claim that the Secretary has overstepped its authority by promulgating a loan forgiveness provision as part of the SAVE program.”
He also stated that even without student debt forgiveness, other elements such as lower payments and limited interest accrual will benefit borrowers. Because the attorneys general could not adequately show why the other clauses should be barred, Crabtree stated that he would only issue a preliminary injunction on debt cancellation.
Cardona announced on Tuesday that the Justice Department will appeal the rulings.
According to White House Press Secretary Karine Jean-Pierre, the Education Department will continue to enroll more Americans in SAVE. The plan offers benefits such as $0 payments for those earning $16 per hour or less, lower monthly payments for millions more borrowers, and protection from runaway interest for those making monthly payments.
SEE ALSO: Presidential Debate Preview: Biden vs Trump Face Off in Atlanta
Politics
Trudeau GST Tax Holiday to Cost Taxpayers $6.3 Billion
Prime Minister Justin Trudeau announced a two-month GST break on some purchases and a one-time $250 rebate for all Canadians earning less than $150,000. The proposed GST break would last from December 14 to February 15.
The Liberals said it would cover various things, including children’s clothing and shoes, toys, diapers, restaurant meals, and beer and wine. It also refers to real and artificial Christmas trees, snack foods and beverages, and video game systems.
The move will cost taxpayers almost $4.7 billion, and the GST exemption will cost an additional $1.6 billion, totaling $6.3 Billion.
The federal government is now running a significant deficit. This raises the question of who will have to foot the $6.3 billion bill for today’s one-time payments. The government will have to borrow the money, and future taxpayers must either repay it or service the additional debt perpetually.
Critics argue that the GST credit is a collection of terrible ideas that will do little to lift Canada out of the long-term economic rut in which our economy is stuck.
Conservative Party Leader Pierre Poilievre responded Thursday to Prime Minister Justin Trudeau’s pledge of a “GST Holiday” for Canadians, calling it a “tax trick.”
Poilievre stated that the temporary exemption from the Goods and Services Tax on various ordinary commodities “would not make up for the permanent quadrupling carbon tax on heat, housing, food, and fuel.”
Bloc Québécois leader Yves-François Blanchet stated he is “against any idea of a prime minister who says, ‘I will give you money in order for you to consider voting for me.'”
According to the Canadian Federation of Independent Business, temporary sales tax holidays will only increase confusion and administrative burden for small business owners.
A temporary sales tax decrease would help boost demand in some industries, including restaurants, Canadians, and companies, which require sustainable tax relief during the slow post-holiday season.
The changes amid an inflation-driven affordability crisis have left many dissatisfied with the Trudeau government. A federal election is scheduled for before next October, although it might happen sooner if the minority government falls before then.
For months, the Conservatives have held a double-digit lead over the Liberals in public opinion polls, with Leader Pierre Poilievre promising to cut taxes and government spending to restore affordability.
High inflation has also pressured the Liberals to avoid proposing policies that would boost spending and raise fuel prices.
According to the Fraser Institute, The Trudeau government got one thing fundamentally right: Lowering the tax burden on Canadians has benefits. Unfortunately, the policy package it has proposed to deliver tax relief is completely wrong.
It lowers the incorrect taxes, moves taxes temporarily rather than lowering them, does little to improve economic incentives, and punishes future taxpayers. With the holiday season approaching, this attempt at a gift for Canadian taxpayers is the economic equivalent of a lump of coal in the stocking.
Related News:
Trudeau Blames Immigration Failures on Bad Actors
Politics
Matt Gaetz Withdraws as Trump’s Pick for Attorney General
Congressman Matt Gaetz has withdrawn as President-elect Donald Trump’s candidate for Attorney General, citing concerns about a federal sex trafficking probe that cast doubt on his ability to be confirmed.
Gaetz resigned after failing to persuade the Senate to endorse his contentious candidacy. Shortly after Gaetz’s unexpected departure, the president-elect issued a statement applauding his former AG nominee’s choice to seek Senate confirmation.
“I greatly appreciate the recent efforts of Matt Gaetz in seeking approval to be Attorney General. He was doing very well but, at the same time, did not want to be a distraction for the Administration, for which he has much respect. Matt has a wonderful future, and I look forward to watching all the great things he will do!” the president-elect wrote on Truth Social.
Gaetz had earlier stated that he was retiring from his current seat in Congress and would not take the oath of office for the upcoming session, which begins in January. Now that he has withdrawn from consideration for AG, his future in Washington is uncertain.
Related News:
Concerned About Matt Gaetz Senate Republicans Call for a House Ethics Investigation
Concerned About Matt Gaetz’s Campaign, Senate Republicans Call for a House Ethics Investigation.
Politics
Eric Hovde Concedes The United States Senate Race To Tammy Baldwin.
(VOR News) – Eric Hovde, the Republican candidate for the United States Senate, has acknowledged that he was defeated by Tammy Baldwin, the Democratic candidate for the same seat on the ballot.
Baldwin acknowledged Hovde’s defeat and consented to it. Furthermore, he released a statement in which he contends that the election results are not only inaccurate, but also devoid of any factual foundation.
Eric Hovde experienced this two weeks after the election.
Baldwin emerged as the unofficial victor of the Senate campaign in Wisconsin, a race that was closely monitored by a significant number of individuals. Baldwin was awarded the title of victor on November 6th. Baldwin emerged victorious by a razor-thin margin.
According to the data provided by the Associated Press, Baldwin emerged victorious by a margin of 29,116 ballots, which is approximately equivalent to 0.9 percent of the total votes cast. Baldwin emerged victorious by a substantial margin, as indicated by the results.
Hovde issued his public apology subsequent to the conclusion of the canvassing of the results by the majority of county clerks throughout the state. This process will ultimately result in the results being recognized as official. Publication of Eric Hovde’s decision. Not only were the results announced at this time, but they were also proclaimed in an official capacity.
The exact phrase of the announcement, “Thank you for your support,” was included in a post by Eric Hovde on Monday and published on the social networking site X.
The public was notified of this announcement. The announcement was public on Monday. It has drawn a lot of attention. “It is time to begin moving on.”
In contrast, Eric Hovde’s film began with a somewhat less inclusive tone, which persisted throughout. He made this assumption without offering any evidence to back it up, and his claims that there were “many troubling issues” with absentee ballots tabulated late on election night were factually incorrect. His claims were not supported by empirical evidence.
His claims were unsupported by any proof. Not a single piece of evidence could possibly prove that his allegations were correct. He stated in the statement that “numerous supporters” had demanded that he challenge the election results. He acknowledged receiving the request.
Eric Hovde acknowledged receiving these demands.
In particular, Eric Hovde asserts, “However, a request for a recount would serve no purpose if it were not for a detailed review of all the ballots and their legitimacy, which will be difficult to obtain in the courts.”
Subsequently, you would recount the identical ballots, regardless of their authenticity. This is the reason, as elucidated in this article. This is the rationale for the current state of affairs.
Hovde and his campaign refrained from issuing any public statements subsequent to Baldwin’s disclosure that Eric Hovde had emerged victorious in the election, which transpired over a week after Baldwin’s initial announcement.
The previous week, he uploaded a video to social media platforms that expressed his “deeply concerned” sentiments regarding the election results in Milwaukee.
The election was conducted in Milwaukee. While the film was being screened, there was a discussion regarding the results of the election in Milwaukee. As the ballots were still being counted in the largest city in Wisconsin on the evening of the election, he expressed his “shock” at the sequence of events that had transpired.
Eric Hovde was emphasizing the occurrence of specific events.
In addition, he declared that ballots were still being tallied at the time of the election. Eric Hovde made this declaration during the voting period, while ballots were still being tabulated.
Baldwin’s team referenced her victory speech, which she delivered the week prior to the election, in response to a request for comment that was submitted on Monday.
In response to the campaign’s request, this action was implemented.
A representative of Baldwin’s team has verified that “Hovde has not called,” which is consistent with the information that was disclosed on Monday morning. The representative who provided these details has worked in a variety of capacities throughout their career.
SOURCE: WPR
SEE ALSO:
Tesla Shares Rise After Trump Proposes liberalizing Self-Driving Vehicle Laws.
Despite losing, Kamala Harris raised more than a billion dollars. She continues to appeal to donors.
-
Politics2 weeks ago
Trudeau Orders Facebook to Block Australian Presser Video
-
Business4 weeks ago
Canada CBC News CEO Catherine Tait Recalled to Parliamentary Committee
-
Celebrity4 weeks ago
Shaun White’s Proposal To Nina Dobrev Was Romantic Gold
-
Tech4 weeks ago
Apple Launches The IPhone Into The AI Era With Free Software Update
-
News3 weeks ago
Pro-Khalistanis Sikhs Attack Hindu Temple in Brampton
-
Food4 weeks ago
Starbucks Is Making A Popular Add-On Free Of Charge