Never a smart answer when you don’t have bootstraps to begin with “the people need to pull themselves up by their own bootstraps” has been and always will be the Republican credo. No one managed to get ahead simply by hustling harder. It’s funny that we utilize a feat that’s physically impossible to signify “going-it-alone.”
Nobody is trying to cover it up. If it helps them rise to power they don’t care what kind of person they help steal it from. One of the original meanings of the phrase “lift yourself up by your own bootstraps” was an impossibility.
Loan forgiveness initiatives by the Biden administration have been challenged in court three times. To begin with a conservative law firm filed a lawsuit with one of their lawyers, Frank Garrison serving as the plaintiff. On Thursday, six Republican Attorneys General filed a second lawsuit.
More updates related to student loan forgiveness-
- White House Denies Report Of $10,000 Of Student Loan Forgiveness.
- Biden Plans to Restart Federal Student Loan Payments in February.
Both lawsuits seek injunctive relief from the court to prevent the loan forgiveness programme from going into effect. If they succeed it will prevent the cancellation of student loans for around 40 million debtors.
Students who obtained federal financial aid in the form of Pell Grants (Federal financial aid often offered to low-income students) and who meet certain income criteria will have up to $20,000 in student loans forgiven by the Biden administration. Loans of up to $10,000 will be forgiven for those who qualify. Eligible borrowers will have annual incomes of less than $125,000 ($250,000 for couples).
About What Do the Lawsuits Mainly Worry?
In the first case, the plaintiff’s efforts to qualify for Public Service Loan Forgiveness are at stake (PSLF). If you work for the government or a nonprofit and have made 120 payments on your student loans over the course of ten years (PSLF), you may be eligible for loan forgiveness in full. One of the most important aspects of the PSLF programme is that any student debt forgiveness is fully tax-free.
But the recently revealed forgiveness plan is taxable in some places including Indiana where Garrison resides.
The lawsuit claims that since Garrison would have to pay taxes on the forgiven sum, he will incur a financial loss as a result of the loan forgiveness programme. The suit states that Garrison’s tax liability will rise by $1,000 if he has $20,000 in student loans discharged because he received a Pell Grant.
Republicans are suing to stop people from getting student loan forgiveness.
Ask yourself why. pic.twitter.com/IfWdfgCJNH
— PoliticsGirl (@IAmPoliticsGirl) October 5, 2022