Probably because Republicans in Congress have been stonewalling the president’s student debt forgiveness. He’s been forced to lower the amount and the scope of the debt forgiveness several times.
I think it’s just a bunch of people reading through all of the laws and looking for any way it can be forgiven without congress, and without the SCOTUS.
They’re doing it in small chunks to make it harder for the Republican’s to block it. I think the total is above $120 billion forgiven at this point out of the $400 billion target. Couple hundred million here, few billion there. They’ve been doing a lot better than most people understand at getting it done as best they can.
My uneducated guess is that banking corps getting “harmed” by the fact they can’t suck money out of their borrowers will have to spend more effort putting each order through the courts.
But, this is the opposite of what it should be. Those who needed less money and were able to pay for the last 10 years straight are likely in the wealthier class.
This was my thought as well, but it’s also important that the rule is more generous then the title let’s on.
With each additional $1,000 of debt, the window for forgiveness increases by one year. For example, a student who took out $13,000 in loans will now have their debts erased if they’ve been in repayment for 11 years — or in 12 years for those who borrowed $14,000 and so on.
So… you can’t be in repayment for eternity, which is a great change. Now we just need to shorten that time frame to 0.
As the other commenter pointed out, there’s a specific political party hamstringing these efforts that need to be voted out.
Key selected projects include: building a new high-speed rail system between California and Nevada, which will serve more than 11 million passengers annually; creating a high-speed rail line through California’s Central Valley to ultimately link Los Angeles and San Francisco, supporting travel with speeds up to 220 mph; delivering significant upgrades to frequently-traveled rail corridors in Virginia, North Carolina, and the District of Columbia; and upgrading and expanding capacity at Chicago Union Station in Illinois, one of the nation’s busiest rail hubs.
The unfortunate reality is that LA is a city with such insanely bad urban design that it's unlikely the corridor is going to be of huge benefit to someone making the trip, at least in the near term. Their city transportation options need wholesale revision to give intercity transportation a fighting chance; as it is now, you'll just be in gridlock congestion or hours of awful public transportation to get to the departure station, for most people.
LA, like so many postwar-design-pattern cities, have sabotaged themselves terribly. Which to me, weirdly, is all the more reason to just barge on ahead with projects like this. They cannot afford to NOT start fixing their brutally inefficient, totally car-oriented infrastructure. The existing system doesn't work. Can't work. Only de-emphasizing car trips can work.
Sounds great on paper but there's tons that can go wrong. Don't forget all those billions that got paid or for national Internet infrastructure that the cable companies just pocketed.
I'll save my praise for when the trains start running.
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