Connect with us

Economy

Schumer: ‘If We Don’t Open Up The Schools, You’re Going To Hurt The Economy Significantly’

Published

on

Screen Shot 2020 08 07 at 2.19.43 PM

In a seeming change of heart, Minority Leader Chuck Schumer (D-NY) said if the nation doesn’t reopen its schools, the economy will be significantly hurt. This comes just four days after the senator tweeted saying schools should reopen only after the federal government gives them more funding — which would greatly delay reopenings and in his own words, hurt the economy.

Schumer tweeted on August 3 that if we want schools to reopen and teachers and students to be safe, “we need MORE federal funding for EVERY school.”

Republicans and Democrats are in heated negotiations on Capitol Hill about what this school relief bill and stimulus will look like — and per usual the talks are not reaching solutions quickly.

Just yesterday, House Speaker Nancy Pelosi (D-CA) said the talks are delayed as the Democrats and Republicans “are very far apart — it’s most unfortunate.”

Schumer himself said “we are very disappointed in the meeting…They were unwilling to meet in the middle,” as reported by Fox 59.

Yet, Schumer said today we must reopen our schools to avoid serious economic consequences. The comments can be seen in the below video starting at 4:41.

“What is one of the biggest problems facing us in the next month,” Schumer asked. “Schools. Opening up the schools safely.”

Schumer explained the impact on teachers and the economy. “You’re going to hurt the economy significantly because lots of people can’t go to work,” he said in today’s news conference.

President Donald Trump has been advocating for the safe reopening of schools for weeks, citing the economic and educational consequences our nation and students will face if we continue to wait for Congress to reach an agreement.

https://twitter.com/realDonaldTrump/status/1290257055534551043?s=20
https://twitter.com/realDonaldTrump/status/1290488364362170371?s=20

If Schumer sees the grave consequences of not reopening as well as how slow talks are going, what is he waiting for?

Continue Reading

Economy

White House announced $6 billion student loan forgiveness for 78,000 public service workers

Published

on

United States Congress

The White House recently announced a $6 billion loan forgiveness program. Nurses, teachers and firefighters are among the 78,000 public service workers who will qualify. Fox Business reports:

Due to fixes to the Public Service Loan Forgiveness (PSLF) program, workers that never received forgiveness are now having their debts partially forgiven or canceled. Only about 7,000 public service borrowers received forgiveness prior to the Biden Administration, now that total hovers closer to 870,000, the announcement said.

“Today’s announcement comes on top of the significant progress we’ve achieved for students and student loan borrowers in the past few years,” the announcement stated. “This includes: providing the largest increases in Pell Grants in over a decade to help families who earn less than roughly $60,000 a year; fixing Income-Driven Repayment plans so borrowers in repayment for years get the relief they earned; and creating the most generous Income-Driven Repayment plan in history – the SAVE plan.”

However, there is concern over fairness that older generations are still paying off student loans and could risk losing Social Security. A group of representatives wrote a letter to Congress, hoping to address the issue of seniors still paying down student loans. Currently, under the Treasury Offset Program (TOP), the government can collect funds, such as tax refunds and Social Security, to pay outstanding student loan balances, reports Fox Business.

“Under the TOP, the federal government can withhold up to 15 percent of monthly Social Security or disability benefits for defaulted student loans,” the lawmakers explained in their letter.

Continue Reading

Trending