From Student Debt Update – Downballot Progres <[email protected]>
Subject a tax on forgiven loans?
Date September 20, 2022 7:11 PM
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John — President Biden finally came through on a progressive policy and agreed to cancel thousands of dollars in student debt for borrowers, a critical move for so many people across the country.

But Republican controlled state legislatures are choosing to treat it as a cash grab:

FROM NPR:
Borrowers in 7 states may be taxed on their student loan cancellation

Various states have laws in place — or are proposing new ones — that would cause loan forgiveness to be treated as taxable income, meaning people would owe money for having student debt erased.

John, it’s simple: at every opportunity, Republicans refuse to support any policies that would benefit the working class.

On the other hand, progressives are the ones that fought every day for loan forgiveness and continue to fight for policies that would uplift our communities — and that’s why we need to transform state legislatures with progressive voices.

Building progresive power is critical to stopping Republicans from ruining all the progress we’ve fought tooth and nail for.

John, progressives built the movement to cancel student debt — and now Republicans are trying to take that progress away. If we want to continue to see real progress, we MUST take back state legislatures from the GOP. Can we count on you to chip in $27 TODAY to support our efforts to build progressive power? ([link removed])

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Let’s do this,

Downballot Progress
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