News broke over the weekend that Senator Bernie Sanders (I-VT), a candidate for the Democratic nomination for president, plans to introduce legislation that would wipe out all student loan debt, currently totaling about $1.3 trillion. The bill, which is to be co-sponsored in the House by Rep. Ilhan Omar (D-MN) and Rep. Pramila Jayapal (D-WA), would also provide for tuition-free public higher education. From Penn Live: "Sanders is proposing to pay for these plans with a tax on Wall Street his campaign says will raise more than $2 trillion over 10 years, though some tax experts give lower revenue estimates."
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