Lawmakers visit campus, call for student loan debt cancellation – press center
At a rainy press conference at Montclair State University on Monday, April 12, U.S. Senator Bob Menendez (D-NJ) and Congressman Bill Pascrell Jr. (NJ-09) announced that they called on President Biden to relieve borrowers from repayment. to $ 50,000 of their federal student loans.
The president is expected to use his authority to act on student loan debt, unleash the economic power of millions, and boost the country’s economic recovery from the pandemic, lawmakers have said.
A provision of the US bailout drafted by Senator Menendez and sponsored by Representative Pascrell in the House makes the college loan forgiveness tax-exempt and eliminates thousands of dollars in surprise tax bills, paving the way for the President to take “Bold steps,” Menendez said.