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Bernie Sanders plans to cancel all $ 1.6n US student loans



  Democratic presidential candidate, beds Bernie Sanders (I-VT) speaks to the crowd in 2019 South Carolina Democratic Party Convention Convention June 22, 2019 in Columbia, South Carolina Copyright
Getty Images [19659004] Democratic Presidential candidate Bernie Sanders has unveiled a plan to forgive all US student loans, which free up about 45 million Americans from a debt bar that can take decades to pay off.

Vermont Senator's suggestion would see $ 1

.6tn (£ 1.2tn) paid through a new tax on Wall Street transactions.

"We want to make a full and complete education a human right," Sanders told reporters on Monday

. Twenty Democratic candidates will be present in two debates this week in Florida.

In the overcrowded field, Mr Sanders runs behind former former Vice-President Joe Biden in the marathon race to become the party's standard bearer.

Next summer, Democrats will elect a White House nominated to take over Republican President Donald Trump in the November 2020 elections.

Singer's proposed legislation is co-sponsored by Democratic Congressmen Pramila Jayapal and Ilhan Omar.

It is the most ambitious student loan policy in the White House race so far, but would currently be a little chance to go into law through the Republican-led Senate.

"The American people bailed out Wall Street," he said as he outlined the plan on Capitol Hill. "Now it's time Wall Street comes to the aid of middle class in this country."

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Media feature How it feels to have your student loan wiped out

"This proposal completely removes student debt in this country and ends the absurdity of judging an entire generation, the millennial generation for a lifetime of debt for the crime to do the right thing – and it goes out and gets a higher education. "

The proposal will include a 0.5% tax on shares and a 0.1% tax on bonds that Sanders- The campaign says would pay for the estimated $ 2.2tn program award over the next decade.

During his 2016 presidential run, Mr. Sanders has also fought for a school-free public institution plan, but this legislation goes on.

His latest suggestion – part of his College for All Idea – is also more ambitious than that of his 2020 democratic rival Elizabeth Warren, whose plan would see student debt relief based on income levels.

During Warren's proposal, people with a household income of less than $ 100,000 would have eliminated $ 50,000 of their student debt.

Those with incomes up to $ 250,000 would also see "substantial debt cancellation", but the 5% earnings above $ 250,000 would not be eligible for any kind of relief.

A Political Weapon Competition

Bernie Sanders was on fire in 2016 with a number of bold – critics would say unrealistic – proposals for treating healthcare, education, environment and income inequality.

This time around, the Vermont Senator finds it more challenging to stand out in a crowded democratic field.

Even more so for Sanders, another progressive master, Elizabeth Warren, has risen in the polls and generated great enthusiasm for her array of detailed political proposals, including a plan to forgive the student's debt to low and middle income Americans. Younger voters were a core part of Mr Sander's support in 2016, and the Massachusetts Senator's training height could pull some of them to her side.

So Mr Sanders goes one step further and proposes free public school education and education debt forgiveness for all Americans, regardless of income.

His $ 1.6tn plan is as expensive as it is ambitious. It could start an armistice of increasingly expensive promises from the other candidates. It can also start a debate on whether to delete students 'debts from more wealthy Americans is an effective use of taxpayers' dollars.

However, on the eve of the first presidential debates, Mr Sanders had to take the initiative. This is his game.

Other 2020 candidates, including Biden, South Bend Mayor Pete Buttigieg and Senators Amy Klobuchar, Kamala Harris and Kirsten Gillibrand, have also made plans to reduce education and alleviate aspects of existing loans.

In other developments on the campaign track, Mr Biden announced on Monday a statement on immigration in the Miami Herald newspaper.

Miami will host the first democratic debates in 2020 on Wednesday and Thursday.

"President Trump's moral bankruptcy strategy is based on limiting immigrants to scoring political points while implementing policies that ensure asylum seekers and refugees continue to reach the border," wrote Biden.

Critics Mr Trump's controversial rhetoric on immigrants, Mr Biden said, focusing on improving screening procedures and investing in border technology would "do more for our security than a wall could ever have."

Meanwhile, Mr Buttigieg has been exposed to challenges in his hometown in the wake of a police raid resulting in the death of a 54-year-old black man.

In a town hall on Sunday, some black residents asked the mayor's policies on law enforcement and blasted his response to the slider and expressed their distrust in his leadership.

After the tense meeting, Mr Buttigieg told reporters: "This problem must be solved in my life's Etime. I do not know a person or a city that has solved it.

" But I know that if we do not solve it in my life, it will sink America. "

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