"It will raise the costs or budget impact of the policy overall," Lautz said.
Notably, the costs would not be spread evenly across the income spectrum, according to the National Taxpayers Union's estimates. Low-income taxpayers earning between $1 to $50,000 would have an average additional cost per taxpayer of $190. That would increase to about $1,040 for those with adjusted gross incomes between $50,000 and $75,000; $1,774 for those between $75,000 and $100,000; $3,791 for incomes of $100,000 to $200,000.
Student loan borrowers gather near The White House to tell President Biden to cancel student debt - all of it with no means-testing on May 12, 2020 in Washington, DC.debt cancellation alone will cost up to $519 billion. Loan forbearance will cost another $16 billion, the research found, while the new income-driven repayment could cost $70 billion.
Canceling student debt will boost near-term inflation more than the Inflation Reduction Act that was recently enacted would reduce it, the Committee for a Responsible Federal Budget found in a. Moreover, it found that canceling student debt would also undermine the deficit reductions in that law recently passed by Democrats.
It is an irresponsible and wasteful government program again.
That is 20% of what the ones getting forgiven get that seems a little off. Gop policy expert at work possibly?
Over how many years.... pretty sure the bank bail outs/corporate bail outs dwarf the student loans.
Or more?
Debt forgiveness? More like debt transfer.
You realize that this is the same story you guys posted last week. This is what is know as gaslighting for ratings folks not news
this is a country that knows how important education can be
This is BS.
Where’s your article on what trumps tax cuts for billionaires cost us?!?
this is silly. raising taxes takes an act of congress. there is no rise in the marginal income tax rate for this year or next year or the year beyond that. it's just factually not true.
You Republishits are absolutely worthless on the topics of investing and trading, and beyond putrid with the endless GOP propaganda. I never watch, I never will, you suck in every way.
There is no debt cancellation, only transferring
I'm sure that's low.
Are people willing to pay this money?
Lol. No it won’t. Jesus, what a dumb story.
Highly doubt
And this is a surprise to anyone?what a joke.
But The Big Guy says this is all paid for. He doesn’t have a clue what he is talking about, but it’s all covered. Trust me.
May cost
I rather pay that to those people who have struggled with debt than pay effing millionaires and billionaires tax break and fkin scammers took ppp loans during Covid.
DonJBacon Wild how fast the sociopathic right pivots on tax cuts always paying for themselves when those taxes represent a life-changing amount of relief for working American families.
How much does aid to farmers cost? How much do billions in annual subsidies to oil companies and airlines cost? How much did this cost? GTF outta here!
He shakes the air … he doesn’t even know what bill he signed
How much did the Republican tax scam of 2017 cost each taxpayer? Because as a middle class worker, Republicans raised my taxes while cutting the taxes of the wealthy. So I don’t have any issues with relief given to those who need it the most.
🕸️😘💯
Those that want to pay for other peoples college education send them the bill. For those of us that don’t want to pay for another persons education that they signed up for under their own free will leave our paychecks alone.
That's less than some people spend annually on lottery tickets so what's the big deal?