White House silent on whether tax increases are necessary to pay for $300,000,000,000 student loan handout
Fox News
The White House is silent on how President Biden's decision to cancel between $10,000 and $20,000 in student debt for some Americans will be paid for in the long run.
Haris Alic covers Congress and politics for Fox News Digital. You can contact him at haris.alic@fox.com or follow him on Twitter at @realharisalic.
Fox News Digital asked the administration about a new analysis from the National Taxpayers Union Foundation estimating that the student loan handout will cost the average U.S. taxpayer more than $2,000. The fiscally conservative think tank, in particular, says the federal government will need to figure out a way in the future to make up for the forgiven loans, whether it be spending cuts or tax hikes. Much of it, the group predicts, will be via the latter.
The White House did not respond to questions about the report or if it was eyeing future tax hikes to make up for Biden's student loan handout.
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