Sanders to Propose Canceling $1.6 Trillion in Student Debt
Senator Bernie Sanders, one of the top-tier candidates for the 2020 Democratic presidential nomination, plans to unveil a proposal Monday to cancel all U.S. student loan debt. The College for All Act would cover $1.6 trillion in student debt and would affect 45 million Americans who would save on average about $3,000 a year. The entire plan would come with a price tag of $2.2 billion to the taxpayer, paid for by a 0.5 percent tax on stock trades, a 0.1 percent tax on bonds, and a 0.005 percent tax on derivatives. “In a generation hard hit ...
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