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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]
The loan program, created in 2007, requires a "reasonable prospect of repayment" of the loan. Under Biden, the program has announced deals totaling $33.3 billion, including $9.2 billion for ...
Advocacy against Student Loan forgiveness in 2022 [ edit ] In October 2022, the Job Creators Network Foundation Legal Action Fund filed a lawsuit against the U.S. Education Department and its secretary, Miguel Cardona , seeking to block the Biden administration’s student loan debt forgiveness program. [ 29 ]
President Biden announced another sweeping federal student loan forgiveness policy, wiping out $5.8 billion in debt for 77,700 borrowers. ... administration to fix the federal repayment program ...
In early December, the Biden administration announced another round of forgiveness: $4.8 billion in relief for more than 80, 000 borrowers. When taken ... EDITORIAL: Biden's small wins on loan ...
After being elected president, Biden called for the 117th U.S. Congress to pass a bill to facilitate $10,000 in student loan forgiveness. [ 2 ] [ 3 ] In August 2022, Biden announced that he would use executive action to forgive $10,000 in student loans for borrowers earning less than $125,000 individually and $250,000 as married couples ...
The Biden administration has approved debt relief for an additional 125,000 student loan borrowers, totaling $9 billion in forgiveness, the White House said Wednesday.