Progressives want him to free up to $50, 000 in debt….
He says that will be up to Congress, which isn’t gonna do that….
Biden himself is thinking about $10,000…..
The action would free up money into the economy for mostly young American’s who earn less upon entering the work force after school….
Progressive groups are vowing to raise the heat on President Biden to cancel student debt, a priority issue for a number of Democratic lawmakers including Senate Majority Leader Charles Schumer (D-N.Y.).
It’s an issue that Biden has failed to deliver on so far, say the groups. Biden has shot down calls to immediately cancel up to $50,000 in student loans and instead supports $10,000 in debt forgiveness.
Nearly 100 days into a term that has generally been applauded by progressives, the groups say Biden needs to make student debt forgiveness a bigger priority in the next 100 days….
“Fifty thousand is the compromise of what President Biden can do right now through executive action. It’s confusing why President Biden hasn’t done this knowing it’s exactly what our economy needs,” said Ross Floyd, organizing director at Student Action, a group that supports free college and the full cancellation of student debt.
Schumer has pushed Biden on the issue and argues that it’s harder to tackle student debt through legislation than it is for Biden to act through executive order. Biden has punted to Congress, calling for lawmakers to present legislation on the issue….