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Biden forgives millions of student loans; critics fear inflation

Biden forgives millions of student loans; critics fear inflation 150 150 admin

By Nandita Bose and Alexandra Alper

WASHINGTON (Reuters) -President Joe Biden said on Wednesday the U.S. government will forgive $10,000 in student loans for millions of debt-saddled former college students, keeping a pledge he made in the 2020 campaign for the White House.

The move could boost support for his fellow Democrats in the November congressional elections, but some economists said it may fuel inflation and some Republicans in the U.S. Congress questioned whether the president had the legal authority to cancel the debt.

Debt forgiveness will free up hundreds of billions of dollars for new consumer spending that could be aimed at homebuying and other big-ticket expenses, according to economists who said this would add a new wrinkle to the country’s inflation fight.

The actions are “for families that need them the most – working and middle class people hit especially hard during the pandemic,” Biden said during remarks at the White House. He pledged no high-income households would benefit, addressing a central criticism of the plan.

“I will never apologize for helping working Americans and middle class, especially not to the same folks who voted for a $2 trillion tax cut that mainly benefited the wealthiest Americans and the biggest corporations,” Biden said, referring to a Republican tax cut passed under former President Donald Trump.

Borrower balances have been frozen since the beginning of the COVID-19 outbreak, with no payments required on most federal student loans since March 2020. Many Democrats had pushed for Biden to forgive as much as $50,000 per borrower.

Republicans mostly opposed student loan forgiveness, calling it unfair because it will disproportionately help people earning higher incomes.

“President Biden’s student loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their debt, and every American who chose a certain career path or volunteered to serve in our Armed Forces in order to avoid taking on debt,” Senate Minority Leader Mitch McConnell said Wednesday.

The administration has yet to determine the price tag for the package, which will depend on how many people apply for it, White House domestic policy adviser Susan Rice told reporters. Student loans obtained after June 30 this year are not eligible, she said.

White House Press Secretary Karine Jean-Pierre told reporters the administration has legal authority to forgive the debt under a law allowing such action during a national emergency such as a pandemic. Earlier, Republican U.S. Representative Elise Stefanik had called the plan “reckless and illegal.”

American university tuition fees are substantially higher than in most other rich countries, and U.S. consumers carry $1.75 trillion in student loan debt, most of it held by the federal government. Biden said other countries could bypass the United States economically if students are not offered economic relief.

PANDEMIC PAUSE, PELL GRANTS

The administration will extend a COVID-19 pandemic-linked pause on student loan repayment to year end, while forgiving $10,000 in student debt for single borrowers with annual income under $125,000 a year or married couples who earn less than $250,000, the White House said.

Some 8 million borrowers will be affected automatically, the Department of Education said; others need to apply for forgiveness.

The government is also forgiving up to $20,000 in debt for some 6 million students from low-income families who received federal Pell Grants, and proposing a new rule that protects some income from repayment plans and forgives some loan balances after 10 years of repayment, the Education Department said.

A New York Federal Reserve study shows that cutting $10,000 in federal debt for every student would amount to $321 billion and eliminate the entire balance for 11.8 million borrowers, or 31% of them.

INFLATION IMPACT

A senior Biden administration official told reporters the plan could benefit up to 43 million student borrowers, completely canceling the debt for some 20 million.

After Dec. 31, the government will resume requiring payment on remaining student loans that were paused during the pandemic. The official said this would offset any inflationary effects of the forgiveness. Payment resumptions could even have a dampening effect on prices, the official said.

Former U.S. Treasury secretary Larry Summers disagreed. He said on Twitter https://twitter.com/LHSummers/status/1561701544600428545 that debt relief “consumes resources that could be better used helping those who did not, for whatever reason, have the chance to attend college. It will also tend to be inflationary by raising tuitions.”

Similarly Jason Furman, a Harvard professor who headed the Council of Economic Advisers during the Obama administration, said debt-cancellation would nullify the deflationary powers of the Inflation Reduction Act. “Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless,” he said.

Moody’s analytics chief economist Mark Zandi sided with the White House, saying the resumption https://twitter.com/Markzandi/status/1560267089180753922?s=20&t=NLcHCM-XfKX8Z_7MOBanDQ of billions of dollars per month in student loan payments “will restrain growth and is disinflationary.”

(Reporting by Nandita Bose in Rehoboth Beach, Delaware, Alexandra Alper and Dave Lawder in Washington and Moira Warburton in Vancouver; editing by Jonathan Oatis, Heather Timmons and David Gregorio)

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U.S. judge blocks Idaho from enforcing abortion ban

U.S. judge blocks Idaho from enforcing abortion ban 150 150 admin

(Reuters) – A federal judge on Wednesday blocked the state of Idaho from enforcing a near-total ban on abortions when women endangered by pregnancy complications require emergency care at hospitals, siding with the U.S. Justice Department that argued the ban conflicted with federal law.

(Reporting by Dan Whitcomb; Editing by Tim Ahmann)

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U.S. judge blocks Idaho abortion ban in emergencies; Texas restrictions allowed

U.S. judge blocks Idaho abortion ban in emergencies; Texas restrictions allowed 150 150 admin

By Nate Raymond

(Reuters) -A federal judge on Wednesday blocked Idaho from enforcing a ban on abortions when pregnant women require emergency care, a day after a judge in Texas ruled against President Joe Biden’s administration on the same issue.

The conflicting rulings came in two of the first lawsuits over Biden’s attempts to keep abortion legal after the conservative majority U.S. Supreme Court in June overturned the 1973 Roe v. Wade decision that legalized the procedure nationwide.

Legal experts said the dueling rulings in Idaho and Texas could, if upheld on appeal, force the Supreme Court to wade back into the debate.

About half of U.S. states have or are expected to seek to ban or curtail abortions following Roe’s reversal. Those states include Idaho and Texas, which like 11 others adopted “trigger” laws banning abortion upon such a decision.

Abortion is already illegal in Texas under a separate, nearly century-old abortion ban that took effect after the U.S. Supreme Court’s decision. Idaho’s trigger ban takes effect on Thursday, the same day as in Texas and Tennessee.

In Idaho, U.S. District Judge B. Lynn Winmill agreed with the U.S. Department of Justice that the abortion ban taking effect Thursday conflicts with a federal law that ensures patients can receive emergency “stabilizing care.”

Winmill, who was appointed to the court by former Democratic President Bill Clinton, issued a preliminary injunction blocking Idaho from enforcing its ban to the extent it conflicts with federal law, citing the threat to patients.

“One cannot imagine the anxiety and fear (a pregnant woman) will experience if her doctors feel hobbled by an Idaho law that does not allow them to provide the medical care necessary to preserve her health and life,” Winmill wrote.

The Justice Department has said the federal Emergency Medical Treatment and Labor Act requires abortion care in emergency situations.

“Today’s decision by the District Court for the District of Idaho ensures that women in the State of Idaho can obtain the emergency medical treatment to which they are entitled under federal law,” U.S. Attorney General Merrick Garland said in a written statement.

“The Department of Justice will continue to use every tool at its disposal to defend the reproductive rights protected by federal law,” Garland said. The DOJ has said that it disagrees with the Texas ruling and is considering next legal steps.

U.S. District Judge James Wesley Hendrix ruled in the Texas case that the U.S. Department of Health and Human Services went too far by issuing guidance that the same federal law guaranteed abortion care.

Hendrix agreed with Texas Attorney General Ken Paxton, a Republican, that the guidance issued in July “discards the requirement to consider the welfare of unborn children when determining how to stabilize a pregnant woman.”

Hendrix, an appointee of former President Donald Trump, said the federal statute was silent as to what a doctor should do when there is a conflict between the health of the mother and the unborn child and that the Texas law “fills that void.”

Hendrix issued an injunction barring enforcement of the HHS guidance in Texas and against two groups of anti-abortion doctors who also challenged it, saying the Idaho case showed a risk the Biden administration might try to enforce it.

Hendrix declined to issue a nationwide injunction as Paxton wanted.

Appeals are expected in both cases and would be heard by separate appeals courts, one based in San Francisco with a reputation for leaning liberal and another in New Orleans known for conservative rulings.

Greer Donley, an assistant professor at the University of Pittsburgh Law School and expert on abortion law, said that if the conflicting rulings were upheld the U.S. Supreme Court may feel pressured to intervene.

“Without a federal right abortion, this is the type of legal chaos that most people were predicting would be happening,” she said.

(Reporting by Nate Raymond in Boston; Additional reporting by Dan Whitcomb in Los Angeles; Editing by Grant McCool and Christopher Cushing)

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Court: Mississippi can continue blocking felons from voting

Court: Mississippi can continue blocking felons from voting 150 150 admin

JACKSON, Miss. (AP) — People convicted of certain felonies in Mississippi still won’t be able to vote, as a lawsuit that sought to automatically reinstate their voting rights was struck down by a federal appeals court Wednesday.

Attorneys who challenged the provision had argued the authors of the state’s 1890 constitution showed racist intent when they chose which felonies would cause people to lose the right to vote, picking crimes they thought were more likely to be committed by Black people.

The Mississippi Center for Justice brought the lawsuit, and attorney Rob McDuff said the center will ask the U.S. Supreme Court to overturn the ruling handed down Wednesday by the 5th Circuit Court of Appeals.

Vangela M. Wade, the center’s president and CEO, said the ruling “doubles down” on years of Black disenfranchisement.

“Access to democracy should not hinge on outdated laws designed to prevent people from voting based on the color of their skin,” Wade said in a statement.

Section 241 of the Mississippi Constitution strips voting rights from people convicted of 10 felonies, including forgery, arson and bigamy. The state attorney general issued an opinion in 2009 that expanded the list to 22 crimes, including timber larceny, carjacking, felony-level shoplifting and felony-level bad check writing.

In the case decided Wednesday, the plaintiffs did not challenge the disenfranchisement of people convicted of murder or rape.

In 1950, attorneys representing the state said Mississippi dropped burglary from the list of disenfranchising crimes. Murder and rape were added to the list in 1968. The attorneys said in written arguments that those changes “cured any discriminatory taint on the original provision.”

A majority of the appeals court agreed with the state’s arguments.

“Plaintiffs failed to meet their burden of showing that the current version of Section 241 was motivated by discriminatory intent,” the majority wrote. “In addition, Mississippi has conclusively shown that any taint associated with Section 241 has been cured.”

In a dissent, Judge James Graves — who is Black and from Mississippi — wrote that the majority of the appeals court had upheld “a provision enacted in 1890 that was expressly aimed at preventing Black Mississippians from voting” and that the court had done so “by concluding that a virtually all-white electorate and legislature, otherwise engaged in massive and violent resistance to the Civil Rights Movement, ‘cleansed’ that provision in 1968” by adding crimes that were considered to be race-neutral.

“Handed an opportunity to right a 130-year-old wrong, the majority instead upholds it,” Graves wrote.

To regain voting rights in Mississippi now, a person convicted of a disenfranchising crime must receive a governor’s pardon or must win permission from two-thirds of the state House and Senate. Legislators in recent years have passed a small number of bills to restore voting rights.

Federal lawsuits were filed in Mississippi in 2017 and 2018 seeking automatic restoration of voting rights for people who had finished serving sentences for disenfranchising crimes. The case decided Wednesday is from the lawsuit filed in 2017.

A panel of 5th Circuit judges heard arguments in December 2019 from the other case, which makes different arguments. That panel has not issued a ruling.

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Biden marks Ukraine Independence Day with $3 billion package

Biden marks Ukraine Independence Day with $3 billion package 150 150 admin

By Steve Holland and Idrees Ali

WASHINGTON (Reuters) -U.S. President Joe Biden marked Ukraine’s Independence Day on Wednesday with $3 billion in security assistance, Washington’s largest aid package since Russia’s invasion six months ago but one that could take months or even years to arrive in Kyiv.

The aid announcement came as U.S. officials warned that Russia appeared to be planning to launch fresh attacks in coming days on Ukraine’s civilian infrastructure and government facilities.

“The United States of America is committed to supporting the people of Ukraine as they continue the fight to defend their sovereignty,” Biden said in a statement announcing the package, noting Kyiv’s “bittersweet” anniversary of independence from Russian-dominated Soviet rule 31 years ago.

The new package uses funds from the Ukraine Security Assistance Initiative (USAI) appropriated by Congress to allow the Biden administration to procure weapons from industry, a process that can take time, rather than from existing U.S. weapons stocks.

The speed depends on whether defense companies have assembly lines already working on the weapon, how much capacity they have and how long it could take to adjust schedules if needed.

White House Spokesman John Kirby said the range of weapon systems would take different amounts of time to reach Ukraine, with the surface-to-air and radar systems taking longer.

The Pentagon said the new package would include six additional surface-to-air missile systems known as NASAMS, 24 counter-artillery radars, Puma drones and counter-drone systems known as VAMPIRE.

“(Department of Defense) continues to work with Ukraine to meet both its immediate and longer-term security assistance needs,” the Pentagon statement said.

In total, the United States has committed more than $13.5 billion in security assistance to Ukraine since the beginning of the Biden administration in January 2021. Since 2014, the United States has committed more than $15.5 billion in security assistance to Ukraine.

Since Russian forces invaded on Feb. 24 in what President Vladimir Putin termed a “special military operation” to demilitarize Ukraine, the conflict has settled into a war of attrition fought primarily in the country’s east and south.

(Reporting by Steve Holland, Idrees Ali with additional reporting by Phil Stewart and Susan Heavey; editing by Alex Richardson, Hugh Lawson, Mark Heinrich, David Gregorio and Cynthia Osterman)

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Biden announces $3 billion Ukraine military aid package on its Independence Day

Biden announces $3 billion Ukraine military aid package on its Independence Day 150 150 admin

By Steve Holland and Idrees Ali

WASHINGTON (Reuters) -U.S. President Joe Biden marked Ukraine’s Independence Day on Wednesday with $3 billion in security assistance, Washington’s largest aid package since Russia’s invasion six months ago but one that could take months or even years to arrive in Kyiv.

The aid announcement came as U.S. officials warned that Russia appeared to be planning to launch fresh attacks in coming days on Ukraine’s civilian infrastructure and government facilities.

“The United States of America is committed to supporting the people of Ukraine as they continue the fight to defend their sovereignty,” Biden said in a statement announcing the package, noting Kyiv’s “bittersweet” anniversary of independence from Russian-dominated Soviet rule 31 years ago.

The new package uses funds from the Ukraine Security Assistance Initiative (USAI) appropriated by Congress to allow the Biden administration to procure weapons from industry, a process that can take time, rather than from existing U.S. weapons stocks.

The speed depends on whether defense companies have assembly lines already working on the weapon, how much capacity they have and how long it could take to adjust schedules if needed.

White House Spokesman John Kirby said the range of weapon systems would take different amounts of time to reach Ukraine, with the surface-to-air and radar systems taking longer.

Under Secretary of Defense for Policy Colin Kahl said that in some instances it would take one, two or even three years to get the weapons into Ukraine.

“The package of capabilities here are really aimed at getting Ukraine what they’re going to need in the medium to long term, so it’s not relevant to the fight today, tomorrow, next week,” Kahl told reporters.

“It is relevant to the ability of Ukraine to defend itself and deter further aggression a year from now, two years from now,” he added.

The Pentagon said the new package would include six additional surface-to-air missile systems known as NASAMS, 24 counter-artillery radars, Puma drones and counter-drone systems known as VAMPIRE.

The VAMPIRE system uses small missiles to shoot drones out of the sky.

In total, the United States has committed more than $13.5 billion in security assistance to Ukraine since the beginning of the Biden administration in January 2021. Since 2014, the United States has committed more than $15.5 billion in security assistance to Ukraine.

Since Russian forces invaded on Feb. 24 in what President Vladimir Putin termed a “special military operation” to demilitarize Ukraine, the conflict has settled into a war of attrition fought primarily in the country’s east and south.

(Reporting by Steve Holland, Idrees Ali and Phil Stewart with additional reporting by Susan Heavey; editing by Alex Richardson, Hugh Lawson, Mark Heinrich, David Gregorio and Cynthia Osterman)

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Oz sharpens attack on Fetterman health after ‘crudites’ flub

Oz sharpens attack on Fetterman health after ‘crudites’ flub 150 150 admin

HARRISBURG, Pa. (AP) — Dr. Mehmet Oz is taking a sharper tone in attacking the health of Democrat John Fetterman in their Pennsylvania Senate race, with the celebrity heart surgeon’s campaign saying that if the state’s lieutenant governor “had ever eaten a vegetable in his life, then maybe he wouldn’t have had a major stroke.”

And in a phone call Wednesday to The Associated Press, an aide to the Republican nominee questioned whether Fetterman was “too sick to debate” — a suggestion brushed off by Fetterman’s campaign as Oz pushes for a televised debate Sept. 6.

The increasingly pointed and personal barbs come as Oz is trailing Fetterman in polls in the November matchup that could help decide Senate control. Democrats see the contest to succeed retiring Republican Sen. Pat Toomey as among their best opportunities nationally to pick up a seat.

Fetterman’s latest high-profile trolling of Oz on social media has focused on Oz’s effort to spotlight the country’s high inflation by shopping for “crudités” — raw vegetables cut up and served as an hors d’oeuvre — in a state with cities that pride themselves on cheesesteaks and pierogies, potato-filled dumplings.

Oz’s stepped-up claims about Fetterman’s health may reflect a vulnerability for the Democrat as he recovers from the stroke days before the May 17 primary. Party officials had initially been nervous about Fetterman’s disappearance from the campaign for nearly three months while he was on the mend. But they insist they are confident he is fully capable of running — and Fetterman says he wouldn’t be in the race if he weren’t able to campaign and win.

Oz, the former host of daytime TV’s “Dr. Oz Show,” has contended that Fetterman is hiding, refusing to commit to a debate and has conducted just two media interviews since the stroke.

Fetterman and his campaign say the Oz’s camp went too far in blaming Fetterman himself for his stroke.

“I had a stroke. I survived it. I’m truly so grateful to still be here today,” Fetterman said on Twitter. “I know politics can be nasty, but even then, I could (asterisk)never(asterisk) imagine ridiculing someone for their health challenges.”

A Fetterman campaign spokesperson, Joe Calvello, said Fetterman is healthy enough to debate, walks 5 miles to 6 miles a day and has been honest about his recovery, saying he is working with a therapist to deal with some speech and hearing problems.

An Oz campaign adviser, Barney Keller, said Oz and his team are simply giving Fetterman “good health advice” to eat vegetables.

As for the proposed debate at a Pittsburgh TV station, the Fetterman campaign said it’s not up to Oz to dictate the terms of the debate schedule.

Keller said Oz has done no such thing, leaving Oz’s campaign to conclude that Fetterman isn’t being honest about the extent to which he is affected by the stroke.

“Either he’s healthy enough to debate and should debate, or he’s not healthy enough to debate and he should say so,” Keller said. But, he added, “Why lie about it? Why continue to lie about how sick he is?”

Fetterman’s public schedule has been relatively light, although he did speak for four minutes at a steelworkers’ union rally in Pittsburgh on Tuesday.

The Oz’s campaign’s statement about Fetterman’s diet tries to play into the narrative that the Democrat is not being transparent about his health.

“If John Fetterman had ever eaten a vegetable in his life, then maybe he wouldn’t have had a major stroke and wouldn’t be in the position of having to lie about it constantly,” Oz’s campaign said.

It came in response to Fetterman’s latest social media trolling, capitalizing on a video in which Oz tries to highlight rising inflation by pointing out the high prices for ingredients to make “crudités.”

Fetterman took to social media to tell Oz that “in PA we call this a … veggie tray,” a rebuke that slams Oz on two narratives favored by Fetterman’s campaign: that Oz is super wealthy and out of touch, and that Oz is really from New Jersey, not Pennsylvania.

Fetterman’s campaign said it raised more than a $1 million off its campaign to lampoon Oz’s “crudités” video.

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Follow Marc Levy on Twitter at https://twitter.com/timelywriter

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Fla. progressive poised to be 1st Gen Z member of Congress

Fla. progressive poised to be 1st Gen Z member of Congress 150 150 admin

TALLAHASSEE, Fla. (AP) — Maxwell Alejandro Frost burst onto the national scene when he crashed a June interview with Republican Gov. Ron DeSantis with calls for action on gun violence in America.

“Nobody wants to hear from you,” DeSantis told Frost as security swarmed.

On Tuesday, Frost, 25, found thousands of people who did want to hear from him, so much so that he won a Democratic primary for an open U.S. House seat in a liberal district, positioning himself to become the first member of Congress from Gen Z.

In an interview, Frost described the interaction with the governor as “ good trouble.”

“That video is really a microcosm of what’s going on in Florida — the governor shooing people off who might have a different opinion, being rude, being a bully” as supporters cheered him on, Frost said. “And we know the majority of people in this state are not in line with that type of governance and that type of thinking, and I truly believe that’s part of what led us to victory here.”

Frost, who campaigned on gun control and Medicare for all and won high-profile endorsements from progressive U.S. Sens. Bernie Sanders and Elizabeth Warren, beat out a crowded cast of Democrats who ran for the seat in Florida’s 10th Congressional District, which includes the Orlando area.

He will compete against Republican army veteran Calvin Wimbish in November for the seat, left open when Val Demings decided to run for U.S. Senate. The district is considered reliably Democratic, making Frost a favorite this fall to become the first member of Congress from Gen Z, those born after 1996.

On his website, Frost detailed his Cuban heritage, noting his mother put him up for adoption after she was “caught in a cycle of drugs, crime, and violence while pregnant” without health care. He also wrote about experiencing “police abuse firsthand” and gun violence in his community, while highlighting his activism work around voting, abortion and guns.

Frost’s victory on Tuesday came over a crowded field that included experienced Democrats, including former U.S. Rep. Corrine Brown, who was in Congress from 1993 to 2017 and was convicted of a federal tax charge, and the former congressman Alan Grayson, whose inflammatory comments have generated headlines.

“Don’t count out young people. Don’t count us out just because we’re young,” Frost said. “When young people have the resources, training that they need and support, they can really flourish.”

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Explainer-How Biden’s student loan forgiveness will impact U.S. consumers

Explainer-How Biden’s student loan forgiveness will impact U.S. consumers 150 150 admin

WASHINGTON (Reuters) -President Joe Biden announced on Wednesday a long-awaited plan to cancel billions of dollars in student debt, making good on a campaign promise to aid debt-strapped younger Americans even as some Republicans argue the move could worsen inflation.

HOW MUCH WILL BE CANCELED AND FOR WHOM? The government will cancel $10,000 in student loan debt for borrowers making less than $125,000 a year, or $250,000 for married couples. Students who received Pell Grants, low-interest federal loans to benefit lower-income college students, will have $20,000 of their debt canceled.

Cancelling $10,000 in student loan debt for every borrower would cost the U.S. government $321 billion, the New York Fed calculated https://libertystreeteconomics.newyorkfed.org/2022/04/who-are-the-federal-student-loan-borrowers-and-who-benefits-from-forgiveness in April, but the income cap means the actual cost will be lower than that.

The New York Fed estimated that forgiving $10,000 per borrower would eliminate student debt for 11.8 million borrowers, or 31% of the total number. The White House said that figure will be 20 million borrowers. Nearly 90% of those borrowers will make under $75,000 a year, the White House said.

HOW BIG IS AMERICA’S STUDENT DEBT PROBLEM? U.S. borrowers hold about $1.75 trillion in student debt, according to the latest Federal Reserve figures https://www.federalreserve.gov/releases/g19/HIST/cc_hist_memo_levels.html. The vast majority of that, some $1.62 trillion, is held by the federal government.

The cost of higher education has skyrocketed in the United States in the past three decades, doubling at private four-year colleges and universities and rising even more than that at public four-year schools, according to research https://research.collegeboard.org/media/pdf/trends-college-pricing-student-aid-2021.pdf from the nonprofit College Board.

The debt is split among 43 million borrowers, a figure that includes students and their parents or other family members, but is dominated by borrowers under age 40, the New York Fed said.

WHEN WILL BORROWERS WITH REMAINDER NEED TO REPAY?

A COVID-19 pandemic-related program that paused federal student loan payments, started under the Democrat Biden’s Republican predecessor Donald Trump, will be extended until the end of this year. Any borrowers with remaining balances after debt forgiveness would start making payments again in January.

The Education Department is also proposing a rule to halve the amount undergraduate borrowers need to pay monthly to 5% of discretionary income, and forgive any remaining loan balances after 10 years.

WHO WILL NOT BENEFIT

Excluded from the program are borrowers who earn more than $125,000 a year, or $250,000 for married couples. The White House said no high-income individual or high-income household, which it defines as in the top 5% of incomes, will qualify.

HOW COULD THIS IMPACT INFLATION?

Republicans opposed to the plan and some economists including former Treasury Secretary Larry Summers have argued that new consumer spending power unleashed by forgiving loans could drive up prices for homes, cars and other consumer goods.

The White House and some economists including Moody’s Mark Zandi have said they believe the impact of restarting loan payments in 2023 will be deflationary.

(Reporting by Nandita Bose and Alex Alper on Washington; Editing by Heather Timmons and Will Dunham)

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U.S. releases 2019 memo that argued against charging Trump with obstruction

U.S. releases 2019 memo that argued against charging Trump with obstruction 150 150 admin

By Sarah N. Lynch

WASHINGTON (Reuters) – The U.S. Justice Department on Wednesday released a 2019 memo in which two top department officials advised then-Attorney General William Barr not to charge President Donald Trump for obstructing Special Counsel Robert Mueller’s investigation into Trump’s 2016 presidential campaign.

Although parts of the memo previously had been made public, the Justice Department had redacted other portions. A federal appeals court in Washington last week ruled that the Justice Department had improperly redacted the memo, and ordered it released.

The ruling came after the Citizens for Responsibility and Ethics in Washington, a government watchdog group, filed suit to challenge the redactions.

Special Counsel Robert Mueller in April 2019 released a 448-page report outlining the results of his inquiry into Russia’s interference in the 2016 U.S. presidential election and whether Trump had tried to obstruct the probe. The report concluded there was not enough evidence to establish that Trump’s campaign colluded with Russia.

(Reporting by Sarah N. Lynch; Editing by Will Dunham)

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