Tuesday, July 27

Elizabeth Warren

Elizabeth Warren, Jeff Bezos, Politics, Taxes

Elizabeth Warren took aim at Jeff Bezos, saying’the richest guy on Earth can launch himself into space while over half the country lives paycheck to paycheck’

Sen. Elizabeth Warren took a jab at Jeff Bezos over his recent space flight as other Americans struggle financially. Warren said if the billionaire can go to space, he can afford to pay more in taxes. ProPublica reported Bezos paid $0 in income taxes for at least two years from 2006-2018. LoadingSomething is loading. Sen. Elizabeth Warren tweet...
Bernie Sanders, BI Graphics, Economy, Elizabeth Warren, Fight for 15, Infrastructure, Kyrsten Sinema, Markets, Minimum Wage, Minimum Wage Challenge, Minimum wage increase, Mitt Romney, Moderates, Rob Portman, Tom Carper, Tom Cotton

Inside the disagreement and inaction in Congress over raising the minimum wage, which hasn’t gone up in 12 years

The federal minimum wage was last raised on July 24, 2009 — 12 years ago. As legislators squabble over infrastructure, the minimum wage is still nowhere to be found. Democrats do still want to raise it, but the party is split on how and when to do it — and how much. LoadingSomething is loading. The federal minimum wage was last raised on July 2...
Biden, Chuck Schumer, Economy, Education Department, Elizabeth Warren, Justice Department, Markets, Policy, Politics, Student Debt, Student debt forgiveness, Student Loans

Biden has been assessing the legality of canceling $50,000 in student debt for millions of Americans. After several months, there’s still no word.

Early in his term, Biden asked the Education and Justice Depts. to review the legality of canceling student debt. They are assessing $50,000 in student debt being canceled per person, and no update has been released. Some Democrats remain adamant that Biden can cancel student debt under the Higher Education Act. LoadingSomething is loading. Ima...
Alphabet, Antitrust, Bernie Sanders, Elizabeth Warren, Google, Joe Biden, Tech Insider, Technology

Biden tapped a prominent Google foe head up the Justice Department’s antitrust division

President Joe Biden has tapped a Google critic to head up the DOJ's antitrust division. Progressive favorite Jonathan Kanter has reportedly represented Microsoft and Yelp in cases against Google. Google is facing a tidal wave of regulatory scrutiny throughout the US and abroad. LoadingSomething is loading. President Joe Biden is set to nomina...
Economy, Elizabeth Warren, Markets, Policy, Politics, Public Service Loan Forgiveness Program, Student Debt, student loan forgiveness, Student Loans

Inside the’vicious cycle’ of spiralling student-loan debt caused by servicers just not picking up the phone

Some student-loan borrowers told Insider they are struggling to get help from their loan servicers. Even though some qualify for debt relief, they accumulate more debt instead. Lawmakers have been pushing to hold the servicers accountable, but further reform is pending. LoadingSomething is loading. ...
Biden, CFPB, Economy, Education Department, Elizabeth Warren, FSA, Markets, Policy, Politics, Richard Cordray, Student Debt, Student Loans

Tackling student debt may have just gotten easier as 4 more advocates join Biden’s ranks

Four former Consumer Financial Protection Bureau employees just joined the Federal Student Aid office. The bureau, which Elizabeth Warren helped create, fights to protect student-loan borrowers. These new hires could help Warren's agenda in cancelling student debt for all borrowers. See more stories on Insider's business page. President Joe Biden may not have yet canceled student debt for every borrower, but new hires to his administration suggest the crisis could be inching up on his agenda.On Monday, the Education Department announced five new hires to the Federal Student Aid (FSA) office, four of which were former employees at t...
Economy, Elizabeth Warren, John Kennedy, Markets, Policy, Politics, Public Service Loan Forgiveness Program, Student Debt, student loan forgiveness, Student Loans

8.5 million student-loan borrowers can’breathe a sigh of relief’ after major loan company shuts down, says Elizabeth Warren

The Pennsylvania Higher Education Assistance Agency, a major student-loan servicer, is shutting down in December. Elizabeth Warren has long criticized the company for failing to provide debt relief to borrowers. The company administers PSLF, which denies 98% of public service workers who seek debt forgiveness. See more stories on Insider's business page. A company that handles 8.5 million Americans' student loans is shutting down after lawmakers like Elizabeth Warren accused it of misleading borrowers, lying to Congress, and failing to properly issue loan forgiveness.The Pennsylvania Higher Education Assistance Agency (PHEAA) notif...
Economy, Elizabeth Warren, interest rates, Markets, Miguel Cardona, Policy, Politics, Student Loans, Treasury, Treasury notes

The expert who authored 5 bestsellers on student loans unpacks why your interest rates are going up while the central bank has rates at 0%

Interest rates on student loans are increasing by nearly a full percentage point starting in July. Bestselling author Mark Kantrowitz told Insider the rates are going up because of Treasury note auctions. The new rates apply to any loan taken out after July, even though all payments are paused until October. See more stories on Insider's business page. Student loans aren't just expensive for the 45 million Americans who are holding $1.7 trillion of them — they're getting more expensive soon.The Federal Student Aid office, the largest provider of college financial aid, announced an interest rate increase of nearly a full percentage ...