KARE11
With the first primary debates scheduled this week, Bernie Sanders is now pushing to cancel debt for 45 million Americans, part of a$2.2 trillion planthat would also make two-year and four-year public colleges and universities free for everyone (it would also boost assistance for the lowest-income students by increasing funding for work-study programs and bolstering Pell Grants that help pay for school-related costs like books).
Sanders' proposal extends beyond even Sen. Elizabeth Warren, whose plan would have an income cap for student loan cancellation. Other candidates have more modest ideas, likeSen. Amy Klobuchar, who proposes free two-year community college and loan refinancing but not total cancellation.
To cover the costs of his $2.2 trillion plan, Sanders wants to implement a tax on Wall Street transactions such as selling stocks or bonds.
Rep. Ilhan Omar of Minnesota, who introduced a debt-cancellation bill in the House of Representatives on Monday, stood beside Sanders as he formally unveiled the proposal.