Politics
Biden’s Student Loans Forgiveness Scheme on Hold Until June 2023
The Biden administration has again suspended the student loans repayment scheme, claiming that the delay will allow courts to rule on the Democrats’ plan to forgive some debt.
It has now been extended until June 30, 2023, marking the eighth time that the US Education Department has delayed requiring student loan repayment. President Joe Biden stated that his student loan forgiveness plan is completely “legal.”
On November 10, a federal judge in Texas dismissed the plan following a lawsuit filed by a conservative group on behalf of two borrowers who did not qualify for all of the program’s benefits.
Days later, a US court of appeals in St Louis, Missouri, granted an injunction against the program requested by six Republican-led states. The White House then petitioned the Supreme Court to overturn the plan.
The program has ceased accepting new applications due to litigation.
Former President Donald Trump appointed the federal judge in Texas, who argued that the Biden administration had illegally bypassed Congress by approving a $400 billion program through a presidential executive order.
I’m confident that our student debt relief plan is legal. But it’s on hold because Republican officials want to block it.
That’s why @SecCardona is extending the payment pause to no later than June 30, 2023, giving the Supreme Court time to hear the case in its current term. pic.twitter.com/873CurlHFZ
— President Biden (@POTUS) November 22, 2022
In a video posted on Twitter on Tuesday, Mr. Biden blamed Republican special interests and elected officials who were sued to deny this relief even to their own constituents.
“It’s not fair to expect tens of millions of eligible borrowers to resume student debt payments while the courts consider the lawsuit.”
In August, Mr. Biden announced his plan to cancel up to $20,000 (£16,800) in student debt per person, or $10,000 for Americans earning less than $125,000 per year.
According to the General Accountability Office, the moratorium, which began in March 2020, has already cost more than $100 billion in lost student loan repayments and interest.
Over 26 million Americans have applied for student loan forgiveness.
Sixteen million have been approved, but court cases have prevented the Department of Education, which is in charge of student debt, from clearing their records.
Americans collectively owe the US government $1.5 trillion in university loans.
According to court documents, U.S. District Judge Mark Pittman declared the loan forgiveness plan illegal because Biden did not follow federal procedures to allow for public comment prior to the policy’s announcement.
The Job Creators Network Foundation filed the lawsuit in North Texas court in October on behalf of two borrowers who are ineligible for all of the program’s benefits. Those borrowers disagreed with the program’s eligibility criteria, and the lawsuit claimed that they were unable to express their dissatisfaction.
The latest assault on Biden’s loan forgiveness programs comes after the United States Court of Appeals for the Eighth Circuit temporarily halted the program last month in response to a lawsuit filed by six Republican-led states. The Texas lawsuit adds to the growing list of legal challenges to Biden’s loan forgiveness plan, which he announced in August. Borrowers began submitting applications for the program in October.
Republicans and other advocacy groups have since slammed the program as a handout to high-paid professionals. In September, Gov. Greg Abbott signed a letter claiming that student loan forgiveness would harm the working class.
However, people earning more than $125,000 are ineligible for the loan relief program. Eligible applicants are limited to $10,000 in relief unless they are Pell Grant recipients, in which case they can receive up to $20,000 in relief.
According to the Texas Higher Education Coordinating Board, 56% of students who graduated from four-year public universities in 2021 had approximately $25,000 in student debt.
Biden’s decision to forgive more money for low-income students who qualify for federal Pell Grants will have a particularly large impact on low-income borrowers and people of colour, who are more likely to qualify for federal financial aid and have higher levels of student debt.
The US Department of Education closed the online portal for student debt relief on Friday, which had been accepting applications since Thursday evening.
“Courts have issued injunctions against our student debt relief program. As a result, we are not accepting applications at this time. We are attempting to have those orders overturned “According to the website.
According to the Texas lawsuit, Biden’s program violated the Administrative Procedure Act by not allowing for public comment. The lawsuit also claims that the Secretary of Education lacks the authority to implement the program.
One of the plaintiffs, Alexander Taylor, is not eligible for $20,000 in forgiveness because he did not receive a Pell Grant, which is only available to low-income students, and thus will only be entitled to $10,000 off his student loans.
Myra Brown, the other plaintiff, has privately held loans that are no longer covered by Biden’s plan. Previously, commercially held loans like Brown’s could be consolidated into Direct Loans, which meet the eligibility requirements of Biden’s program, but the Education Department changed this policy in response to multiple lawsuits from conservative states.
Brown had previously benefited from a federal loan forgiveness program as the owner of Desert Star Enterprises Inc., according to The Intercept. According to the publication, Brown’s company received a $48,000 business loan, $42,997 of which was forgiven in April as part of the Paycheck Protection Program.
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.
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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.
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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
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