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Biden Says He Will Cancel Up to $20K in Student Load Debt Per Barrower

Biden Says He Will Cancel Up to $20K in Student Load Debt Per Barrower

President Joe Biden rolled out his plan to cancel up to $20,000 in student loan debt. Anyone who made under $125,000 during the pandemic is eligible for $10,000 in forgiveness. Borrowers who received Pell grants can get an additional $10,000 relieved.

President Donald Trump suspended student loan payments in 2020. While announcing his plan Wednesday, Biden extended Trump’s repayment pause through 2022.

Time reports some other details of Biden’s student loan plan.

Another feature of the loan relief plan is that it caps undergraduate loan payments to 5% of a borrower’s monthly income, as opposed to the previous 10% threshold.

Additionally, the plan forgives loan balances of $12,000 or less after 10 years of payments, instead of the current 20 years. It also fully covers the borrower’s unpaid monthly interest, so that unlike with current income-driven repayment plans, a borrower’s loan balance won’t grow as they are making their required monthly payments.

The White House claims Biden’s student loan action will eliminate debt for 20 million Americans. The White House fact sheet did not explain how Biden has the unilateral authority to cancel the loans.

Food Truck Owners Punished After Police Open Fire on a Crowd on Bystanders

Food Truck Owners Punished After Police Open Fire on a Crowd on Bystanders

In July, a Denver police officer saw a man in a crowd carrying a gun. A group of cops responded by opening fire, injuring six people. Rather than addressing the police officers who fired on a group of innocent people, the city has responded by restricting where food trucks can operate.

Fiona Harrigan writing at Reason explains how Denver’s new policy hurts business owners and immigrants.

At 1:30 a.m. on July 17, Denver Police Department officers were monitoring the crowds of people departing nightclubs. They witnessed an altercation involving Jordan Waddy, with one officer observing that he “may have had a firearm concealed in his hoodie or waistband.” An officer saw Waddy “reaching into his waistband or pocket in a motion consistent with pulling out a firearm,” so the cops began to shoot (bodycam video later revealed that Waddy removed his handgun from his hoodie and tossed it to the ground). Six bystanders were injured in the ordeal.

Following the shooting, Denver officials wanted to find a way to combat crime downtown. So even though the police admitted that something went wrong “from a tactics standpoint,” the city moved to ban food trucks from operating in Lower Downtown on Thursdays, Fridays, and Saturdays. Officials “touted moving food trucks off those streets as one way to decrease crowds, chaos and crime,” according to the Denver-based outlet Westword. Food truck owners were instead forced to park blocks away from the area, much further from the bars and their crowds. The truck owners say they weren’t consulted, and now worry about how they’ll stay afloat without the profitable weekend slots.

Read the whole article at Reason. 

RIP Michael Badnarik

external content.duckduckgo 1I am told this morning that Michael Badnarik died in his sleep of heart failure last night.

Michael was a great believer in and defender of freedom and the United States of America and its Constitution. He represented the Libertarian Party as presidential candidate against George W. Bush and John Kerry in 2004. I am proud to have served as his foreign policy adviser during his campaign.

He spent his life inspiring other people’s interest in liberty, winning numerous people over to our cause.

He leaves a proud legacy and will not be forgotten.

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