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What makes me laugh if it goes through is apparently debt that is forgiven is taxable as income. I will laugh when they have to pay a few thousand bucks straight out of pocket. Other than that it sucks.
It's not taxable.
Although 5 states are looking to enact legislation to make it taxable
Arkansas, Minnesota, Mississippi, North Carolina, and Wisconsin are set to consider student loan forgiveness a taxable event, according to the Washington-based think tank the Tax Foundation, which collects data on U.S. tax policies.
Do you know if it can be challenged in court before it's published ?
Yes...Pelosi said last year that Biden couldn't do it because it would be unconstitutional and that authority was in Congress.
Something tells me Pelosi will not be the one to bring the suit.
I vote that Dershowitz should do it. He has the time and all those law students to help him out for free.
Ted Cruz acknowledged in his Sunday podcast that suing the administration might not be that easy.
"The difficulty here is finding a plaintiff who the courts will conclude has standing," Cruz said. "That may prove a real challenge."
Insider reported Thursday that some GOP state attorneys general, along with conservative advocacy groups like the Job Creators Network, had said they were weighing the legal options available to them to fight Biden's student-loan forgiveness.
But Abby Shafroth, a staff attorney for the National Consumer Law Center, told Insider that it was "very unlikely that any of these groups can prove they've suffered any legally cognizable injury that would provide them standing to challenge those actions."
I think we heard this argument. I remember how gobsmacked every one was when ACA passed mustard.
ACA enacted by US Congress and signed off by Obama
Student loan forgiveness enacted by King Biden and signed off by King Biden
See the difference?
Good
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