100 signatures reached
To: President Donald Trump, The U.S. House of Representatives, The U.S. Senate, and The Department of Education
Stimulate the Economy: Forgive Student Loans #forgivestudentloans
Simply put: Forgive student loans as a part of the 2020 stimulus package in response to the Coronavirus. In an effort to address the economic disruptions the virus will cause millions, please consider planning ahead and responding fast.
Why is this important?
The Dow Jones dropped last week and this week reported its worst weeks since the 2008 financial crisis. The plummeting stock is the tip of the iceberg. Small businesses that rely on overseas production are suffering. American exporters in agriculture and forestry are losing access to valuable overseas markets. Tourism will continue to decline sharply. Analysts now project that American companies will generate zero earning growth in 2020 because of COVID-19. If the virus reaches global pandemic levels, experts predict that it could lead to a recession in the US and across the globe.
The economic impact will be felt in the next upcoming months and it is necessary to not only limit the spread of the virus but also get ahead of its economic impact to limit the financial fallout it will have on millions of Americans. Elizabeth Warren has already crafted a well laid out plan for canceling student loan debt. The Department of Education already has the broad legal authority to cancel student debt in which it does not require Congress to act. However, we the American people would appreciate if our leaders and representatives prioritize our financial health and futures by taking a vote towards supporting the relief of student loan debt. Approximately 42 million Americans can immediately benefit from the cancellation of student loan debt and immediately empower the American economy. In addition to the cancellation of student loans, please ensure it will not result in any additional tax liability for borrowers. Again, please refer to Senator Elizabeth Warren's well-researched and well laid out student loan debt cancellation plan.
Tell your Senator and tell your Congressman or Congresswoman to publicly support a stimulus proposal that takes student loan debt cancellation without tax liabilities for the borrowers into consideration.
The economic impact will be felt in the next upcoming months and it is necessary to not only limit the spread of the virus but also get ahead of its economic impact to limit the financial fallout it will have on millions of Americans. Elizabeth Warren has already crafted a well laid out plan for canceling student loan debt. The Department of Education already has the broad legal authority to cancel student debt in which it does not require Congress to act. However, we the American people would appreciate if our leaders and representatives prioritize our financial health and futures by taking a vote towards supporting the relief of student loan debt. Approximately 42 million Americans can immediately benefit from the cancellation of student loan debt and immediately empower the American economy. In addition to the cancellation of student loans, please ensure it will not result in any additional tax liability for borrowers. Again, please refer to Senator Elizabeth Warren's well-researched and well laid out student loan debt cancellation plan.
Tell your Senator and tell your Congressman or Congresswoman to publicly support a stimulus proposal that takes student loan debt cancellation without tax liabilities for the borrowers into consideration.