PRESIDENT Joe Biden is working on two stimulus proposals that could include more relief checks or cancel student loan debt.
The policy proposals currently focus on creating jobs and supporting families, but many are hopeful that additional stimulus checks and student loan forgiveness will also make the cut.
Many want Biden to expand stimulus check payments and include student loan forgiveness in future recovery plans.[/caption]
In his speech to the joint session of Congress last week, President Biden praised the impact of stimulus checks but did not comment on whether there would be more of them in the future.
“We kept our commitment — Democrats and Republicans — of sending $1,400 rescue checks to 85 percent of American households,” Biden said. “For many people, it’s making all the difference in the world.”
The IRS is still sending out the third round of stimulus checks, and many Democrats are pushing for more checks in the future.
However, some say it would be a struggle to gain bipartisan support for additional checks.
Democrats are hoping for additional stimulus checks as the IRS continues to distribute the third round of relief payments.[/caption]
Biden’s American Jobs Plan would inject $2 trillion into the US economy to create infrastructure jobs. There are no plans yet for it to include stimulus checks.
The American Family Plan, also in progress, would set aside $1 trillion for education, affordable child care and paid family and medical leave. Some are keeping an eye on this plan to see if a fourth stimulus check is eventually included.
People are also looking for $10,000 in cancelled student loans, a proposal Biden has previously supported.
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While neither plan currently includes student loan forgiveness, Biden recently asked his education secretary if he has the executive power to cancel up to $50,000 in student loan debt.
President Biden is weighing the legality of cancelling student loan debt through executive action.[/caption]
The education department has yet to announce its findings on the subject.
When he first took office, Biden authorized a pause on federal student loan payments and interest accrual through September 30, 2021. After that, student loan payments are set to resume.