Schumer tells Biden he can cancel student debt with a 'flick of a pen'
Senate Minority Leader Chuck Schumer (D-N.Y.) is lending his powerful voice to the movement to cancel student debt.
Schumer on Monday joined with three fellow New Yorkers who were recently elected to Congress: Ritchie Torres, Mondaire Jones, and, by video chat, Jamaal Bowman. In an outdoor press conference, Schumer joined their call for President-elect Joe Biden to make student debt forgiveness a priority — in fact, Schumer said he should do it "on the first day he becomes president" with an executive order.
Schumer, Bowman, Jones, and Torres are asking Biden to cancel $50,000 worth of debt for anyone making less than $125,000 per year. "You don't need Congress. You just need the flick of a pen," Schumer said on Monday. Schumer also said Biden has been supportive of canceling debt, but still wants to examine the legality of using executive action to do so.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Schumer, along with Sen. Elizabeth Warren (D-Mass.), co-wrote an opinion article published Friday in Blavity that further argued how student debt disproportionately hurts Black and brown Americans, and how Biden and Vice President-elect Kamala Harris could quickly cancel it.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
2024: The year of conspiracy theories
IN THE SPOTLIGHT Global strife and domestic electoral tensions made this year a bonanza for outlandish worldviews and self-justifying explanations
By Rafi Schwartz, The Week US Published
-
Five medical breakthroughs of 2024
The Explainer The year's new discoveries for health conditions that affect millions
By Adrienne Wyper, The Week UK Published
-
Top films coming out in 2025
The Week Recommends Pick up some popcorn and settle in for a cinematic treat
By Adrienne Wyper, The Week UK Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published