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"Any bailout of the auto industry is really a bailout for the health benefits of the UAW. That's all it is." [48] Opponents of a bailout believe that the automakers' problems could be more efficiently resolved by a bankruptcy court with legal power to dissolve existing contracts, shedding costs, and debts that it can no longer afford.
According to an April 2014 report of the Special Inspector General of the Troubled Asset Relief Program, the U.S. government had lost $11.2 billion (~$14.2 billion in 2023) in its rescue of General Motors. The U.S. government spent $50 billion to bail out GM, meaning it recovered 77.6 percent of its investment amount. [7]
This includes borrowers eligible for forgiveness under repayment plans such as the Saving on a Valuable Education Plan (SAVE) or targeted relief programs, or closed school loan discharges, except ...
Today’s changes are the result of a long-standing effort by the Biden administration to fix the federal repayment program. Today, total relief through PSLF now equals $62.5 billion for 871,0000 ...
President Joe Biden is determined to provide debt forgiveness to federal student loan borrowers, despite more than a year of having his plans challenged and shot down in the courts. The...
The Biden administration is "preliminarily enjoined from any further loan forgiveness for borrowers under the Final Rule’s SAVE plan until such time as this Court can decide the case on the ...
The Biden Administration’s Saving on a Valuable Education (SAVE) plan, which was introduced in 2023 as an income driven repayment initiative aimed at reducing or eliminating monthly payments for ...
Biden laid out the revised plan in April after the Supreme Court nullified the administration’s original student debt forgiveness program in 2023. That plan would have benefitted 43 million ...