Bernie Sanders, the 2020 hopeful, is set to announce on Monday a policy proposal that would eliminate all $1.6 trillion of American student debt, according to a report.
The Democratic presidential candidate’s new proposal calls for the federal government to wipe clean the student debt held by 45 million Americans, including all private and graduate school debt, The Washington Post reported. The proposal package also includes making public universities, community colleges and trade schools tuition-free.
STUDENT LOANS ARE BIGGEST SOURCE OF PERSONAL DEBT IN US
Sanders reportedly plans to pay for the lofty proposal with a tax on Wall Street, which his campaign says will generate more than $2 trillion over 10 years. The tax would focus on financial transactions, the report said, such as a 0.5 percent tax on stock transactions and a 0.1 percent tax on bonds.
Sanders on Monday will join Rep. Ilhan Omar, who will introduce legislation in the House to eliminate all student debt in the United States. They will be joined by Rep. Pramila Jayapal, co-chair of the Congressional Progressive Caucus. – READ MORE