Bernie Sanders of Vermont want the government to cancel at least $50,000 per borrower. Elizabeth Warren of Massachusetts and Sen. Biden has said he favors forgiveness up to $10,000. Democrats generally favor this idea, but they disagree on how much debt to forgive. The biggest move Biden is mulling is whether to forgive student debt.
In April, the Peterson Institute for International Economics published research arguing that reducing or eliminating those tariffs could cut the inflation rate by 1 to 2 percentage points and save the typical family $800 per year. Biden has also told the nation’s biggest oil refiners that “my administration is prepared to use all reasonable and appropriate federal government tools and emergency authorities to increase refinery capacity and output in the near term.” That suggests Biden could pursue some kind of executive action to increase oil and gasoline production and bring prices down.Īnother idea Biden is noodling: A rollback of some of the tariffs Donald Trump imposed on billions of dollars’ of imported goods, mostly from China.
All things done drivers#
Within the coming weeks, he needs to make decisions on several politically touchy issues that could help Americans weather high inflation, while also risking a backlash from voters getting fed up with government giveaways.īiden said on June 20 he’s “ considering” a gas-tax holiday, and if not that, a way to issue rebate cards to drivers to help cope with gas prices averaging roughly $5 per gallon.
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