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On December 19, George W. Bush announced that he had approved the bailout plan, which would give loans of $17.4 billion to U.S. automakers GM and Chrysler, stating that under present economic conditions, "allowing the U.S. auto industry to collapse is not a responsible course of action."
Based on an assessment that automobile manufacturing was a critical sector of the economy providing 3 to 4 million jobs for Americans, that liquidation was imminent for two of the three major U.S. automakers, and that the break ups would devastate the U.S. economy, the U.S. government became involved in the day-to-day management decisions of ...
President Biden is trying again to cancel student loan debt for up to 25 million borrowers after the Supreme Court killed his first effort to do so last year. The new plan draws on a different ...
President Biden today wiped away an additional $9 billion in student debt. Since he took office, his administration has discharged $127 billion in student loan debt for more than 3.5 million ...
President Joe Biden announced last week the cancellation of $1.2 billion in student debt for 153,000 borrowers—an average of $7,843 per borrower. The move is one of dozens he’s made since 2021 ...
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 massive battery plants in Tennessee and Kentucky for Ford’s electric vehicles.
The money would come from the Advanced Technology Vehicles Manufacturing Loan Program, which has $17.7 billion to provide low-cost loans to make fuel-efficient vehicles and components. The program has focused mostly on loans to new battery factories for electric vehicles in recent years but also helped finance the initial production of the ...
The Biden administration announced on Thursday it will wipe out a fresh batch of student loans — this time, targeting borrowers who took on small debts of $12,000 or less for college. Don’t miss