AOC Alexandria Ocasio-Cortez detailed what’s in the COVID Bill, and added there is an Easter Egg on Student Loans. Many people are wondering what that Easter Egg is, but we may have answer.
In her post she explained the COVID bill includes, $1,400 stimulus checks, $300 Weekly unemployment insurance, $3,600 per child to Parents for the next year, FEMA will pay back up to $7,000 for COVID-19 funerals, the first $10,200 of unemployment will not be taxed, Cheaper Affordable Care Act exchange premiums, free COBRA premiums through September, Housing assistance for rent and mortgages, All adults eligible for vaccines on May 1st, and of course the Easter egg on student loans.
What is the Easter Egg on Student Loans AOC mentioned?
Reports say Congress waived all tax liability for student loan debt relief through 2025. This could be major sign Joe Biden is actually considering doing the $50,000 student loan forgiveness in the future, and also could explain the real reason why he was hesitant on agreeing to do it before this bill. If he used his executive power to forgive that much in student loan debt before this COVID bill it would have potentially left some people with massive tax bills, because it would have been considered income during Tax season.