Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
Biden Facing Pressure by Democrats to Tackle $1.6 Trillion Student Debt
Posted
January 8, 2021
Views
26,903
Likes
175
Comments
353
Engagement
January 8, 2021
26,903
175
353
1.96%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
3:54Now PlayingDemocrats are set to take control of the U.S. Senate, House and presidency, paving the way for Joe Biden to bring his legislative agenda to life and reshape the American economy.
Following runoff elections in Georgia this week, the Democrats and Republicans will each have 50 votes in the Senate. The even split would give Democratic Vice President Kamala Harris the tiebreaking vote on some bills, but centrists like West Virginia’s Joe Manchin could break ranks and derail some progressive policies. What’s more, some laws need 60 votes to pass.
Biden was recognized by Congress as the next president early Thursday following a day of violence at the U.S. Capitol when pro-Donald Trump mobs breached police lines and entered the building. Here are some of the key issues related to personal finances that Biden and the Democrats are likely to take up once they formally assume power.
Biden has already faced increased pressure by members of his own party to tackle some of the nation’s $1.6 trillion in student debt.
Democrats have urged him to bypass Congress and act through his own executive authority, but Biden has indicated that he doesn’t plan to act unilaterally. With Republican support for student loan forgiveness virtually non-existent, and even some moderate Democrats opposing it, the issue may not come to the Senate floor even if it’s held by the Democrats.
Biden has proposed a plan to make two- and four-year public colleges free for families that earn less than $125,000. He also supports canceling federal student debt for students from undergraduate universities and from private historically Black colleges and universities for the same income bracket.
Subscribe to our YouTube channel
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
