#TSRPolitics: U.S. Senator #ElizabethWarren did not come to play with the other Democratic presidential candidates vying to unseat Donnie in the 2020 election.
A champion of public education, Warren rolled out a plan today that proposes eliminating the student loan debts of tens of millions of Americans and making all public colleges tuition-free, @cnn reports.
Student debt and college affordability have become key issues in the Democratic race, and Warren’s ideas land on the more progressive end of the scale. Her new plan would forgive $50,000 in student loans for Americans in households earning less than $100,000 a year. According to analysis provided by her campaign, her plan would provide immediate relief to more than 95% of the 45 million Americans with student debt.
She’s also calling for a drastic increase in federal spending on higher education that would make tuition and fees free for all students at both two and four-year public colleges and expand grants for lower-income and minority students to cover costs like housing, food, books and child care.
Her campaign estimates that the plan would cost $1.25 trillion over the course of 10 years.
The revenue from Warren’s wealth tax proposal — a 2% tax on wealth above $50 million and a 3% tax on wealth above $1 billion — would actually pay for her newest proposal, her campaign said.
According to details shared by her campaign, the massive debt cancellation and free college plan additionally asks states to chip in to cover the cost of tuition and fees.
And in regard to her universal child care proposal, Warren has said that would also be paid for by her wealth tax.
“For two cents on the dollar, we could pay for universal child care, universal pre-K, universal college and knock back the student loan debt burden for about 43 million Americans and still have nearly, just short, of $1 trillion leftover,” Warren told CNN. “It tells you how badly out of whack our economy is right now.”
Roommates, what are your thoughts on Elizabeth Warren’s plan? Let us know!
TSR STAFF: Christina C! @cdelafresh