Elizabeth Warren

The student loan debt burden is massive, and it affects millions of families.

President Biden can cancel $50,000 of student debt with the stroke of a pen today.

I think today we should just declare that has been a complete failure. It is time to go big and to go simple.

Student loan debt is like a thousand-pound weight that is holding Americans and our economy back.

With the stroke of a pen, he can provide direct relief to tens of millions of families.

Canceling student debt by executive action is one of the most effective ways President Biden can provide sweeping relief to millions of families.

We have to think about this as a racial justice issue.

Canceling $50,000 in student loan debt would also help close the Black-White wealth gap among borrowers by 25 points.

It is time to act now.

If a person who worked at the Department of Education stole $22.3 million they would be fired.

I implore him to use this authority in the pursuit of economic and racial justice.

There is no expectation that the servicer, in this instance, Navient, will act in the interest of the consumer.

Make no mistake, despite the dominant narrative, the student debt crisis has always been both a racial and economic justice issue.

More than 40 million borrowers are trapped in a rigged game. They are crushed by debt.

Their battle cry was to, quote, 'Forbear them, forbear them. Make them relinquish the ball.'

Rebuilding the IRS is about making sure that we have a playing field that is level and making sure that we have a government that works for everyone.

It is clear we need a bold investment in the IRS, which President Biden has called for in his infrastructure plan.

Chair Wyden has been a champion for more enforcement funding for years.

Republicans deliberately targeted the IRS with budget cuts, which depleted its ability to enforce our tax laws.

Our tax system is rigged in favor of wealthy individuals and giant corporations that can use lawyers and accountants and lobbyists to avoid paying their fair share in taxes.

Widespread administrative debt cancellation is needed to remedy the failures of our student loan system.

Our corporate tax code is so littered with loopholes that simply raising the regular corporate tax rate alone is not enough

Yes. Well, something has to change. And I am all for raising the corporate tax rate. I am also for closing loopholes.

Corporations will never stop trying to bend the rules. You know, when you plug one loophole, they are going to bring in armies of lawyers and lobbyists.

So we have a lot of work to do to fix the international tax system, and I am looking forward to working with my colleagues here to do that.