Elizabeth Warren wants to use her wealth tax to wipe out Americans’ college debt and pay for tuition – CNBC
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- Democratic presidential candidate Elizabeth Warren has identified something else to finance with her proposed wealth tax: wiping out student debt and tuition at public colleges.
- She says her proposal would benefit 95% of the 45 million Americans carrying student debt, and wipe it out for 75% of them.
- Warren’s plan would also cut off federal money from for-profit colleges, which she says “enrich themselves while targeting lower-income students, service members and students of color and leaving them saddled with debt.”
Democratic presidential candidate Elizabeth Warren has identified something else to finance with her proposed wealth tax: wiping out student debt and tuition at public colleges.
The Massachusetts senator, who has raced ahead of her 2020 rivals with detailed plans to re-arrange America’s economic priorities, on Monday unveiled her proposal for easing access to higher education. It would:
- Spend $1.25 trillion over 10 years to eliminate up to $50,000 in student debt for those with household incomes under $100,000
- Allow states to make public colleges tuition-free
- Spend $100 billion on expanded Pell grants to defray more non-tuition expenses
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