Daily Tax Report ®

Warren Would Bypass Congress to Cancel Federal Student Debt (1)

Jan. 14, 2020, 5:18 PM

Senator Elizabeth Warren proposed Tuesday to ease federal student loan debt with executive authority, in a policy rollout aimed at attracting young voters.

Warren said that as president, she would not wait for Congress to approve her plans to cancel or modify federal student debt. Instead, she would directly authorize the Department of Education to provide as much as $50,000 in relief to about 95% of student loan borrowers.

Elizabeth Warren
Photographer: Daniel Acker/Bloomberg

She has said she would relieve $640 billion of student debt, a pledge that would be funded by her proposed tax on wealth for households with assets of more than...

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