Calling on the President of the United States to take executive action to broadly cancel Federal student loan debt.
This resolution calls on the President to take executive action to cancel up to $50,000 in federal student loan debt for borrowers. Further, it encourages the President to (1) ensure that borrowers have no tax liability from the debt cancellation, (2) ensure that the debt cancellation helps close racial wealth gaps, and (3) pause student loan payments and interest accumulation on federal student loans for the duration of the COVID-19 (i.e., coronavirus disease 2019) pandemic.
Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.