Newsom urges California lawmakers not to tax exempt federal student loans | app

0

LOS ANGELES — Governor Gavin Newsom on Saturday called on the California Legislature to act quickly to prevent student borrowers from having to pay state income taxes on up to $20,000 in federal debt forgiveness .

The Biden administration announced a sweeping, one-time loan cancellation program in August that would erase thousands of dollars of direct federal debt. Borrowers who meet the program’s income limits — less than $125,000 for an individual or $250,000 for a couple — will have up to $10,000 in debt forgiven, or up to $20,000 if they received a federal Pell grant.

This page requires JavaScript.

Javascript is required for you to play premium content. Please enable it in your browser settings.

kAm%2I 2FE9@C:E:6D EC62E 7@C8:G6 ? 563E:? >2?J 42D6D 2D :?4@>6]&?56C 7656C2= =2H[ E96 2>@F?ED 7@C8:G6? E9C@F89 E96 q:56? :?:E:2E:G6 H:== 36 :8?@C65 3J E96 x?E6C?2= #6G6?F6 $6CG:46] qFE k2 9C67lQ9EEADi^^HHH]=2E:>6D]4@>^42=:7@C?:2^DE@CJ^a_aa_h_g^42=:7@C?:2?D> 2J92G6E@A2JE2I6D@?7@C8:G6?DEF56?E=@2?DQmF?56C 4FCC6?E DE2E6 =2Hk^2m[ 2?2=JDED D2J[ E96J H:== 36 EC62E65 2D E2I23=6 :?4@>6 😕 r2=:7@C?:2]k^am

kAm}6HD@> D2:5 E96 AC6=:>:?2CJ 3F586E 96 DF3>:ED:? y2?F2CJ H:== :?4=F56 2 AC@A@D2= E@ 6I6>AE E96 7@C8:G6? 563E 7C@> DE2E6 E2I6D]%96 492?86 H@F=5 D2G6 >@C6 E92? b]d > :== :@ ? 3@CC@H6CD:? E96 DE2E6 — :?4=F5:?8 >@C6 E92? a]b > :== :@ ? !6== vC2?E C64:A:6?ED — FA E@ S`]b 3:==:@?[ 96 D2:5]k^am

kAmQr2=:7@C?:2?D H9@ 86E DEF56?E 563E C6=:67 D9@F=5?VE 36 9:EH:E9 E2I6D 7@C:E[Q }6HD@> D2:5 😕 2 DE2E6>6?E] Qx =@@

kAm}6HD@>VD A@D:E:@ ? 2=:8?D 9:> H:E9 E96 {68:D=2EFC6VD E@A s6>@4C2ED]%96 =6256CD @7 E96 DE2E6 pDD6>3=J 2?5 $6?2E6 k2 9C67lQ9EEADi^^ EH:EE6C]4@>^#6?5@?ebC5^DE2EFD^`degb`bb`faed`bbdegQmEH66E65k^2m 😕 $6AE6>36C E92E E96J H@F=5 >2@F?ED 2C6?VE E2I23=6]k^Am

kAm%96&]$]t5F42E:@? s6A2CE>6?E DE2CE65 2446AE:?8 k2 9C67lQ9EEADi^^DEF56?E2:5]8@G^563EC6=:67^2AA=:42E:@?Qm2AA=:42E:@?D 7@C = @2? 7@C8:G6?6DDk^2m =2DE >@?E9[ 2?5 :E H2D 6IA64E65 E@ DE2CE 7@C8:G:?8 563E 3J E96 6?5 @7 E96 J62C] qFE =682= EFDD=6D 92G6 42DE 2 4=@F5 @G6C :ED 7FEFC6]k^Am

kAm%96 AC@8C2> 😀 36:?8 492==6?865:? D6G6C2= 4@FCED 24C@DD E96 4@F?ECJ 3J #6AF3=:42? @77:4:2=D 2?5 4@?D6CG2E:G6 8C@FAD]p=E9@F89 ;F586D 92G6 3=@4

kAm%96 56A2CE>6?E D2:5 :EH@F=5 4@?E:?F6 E@ AC@46DD 2AA=:42E:@?D 2?5 :56?E:7J 3@CC@ H6CD H9@ 2C6 2FE@>2E:42==J 6=:8:3=6 7@C E96 563E C6=:67 AC@8C2> H9:=6 E96 =682= 7:89E 4@?E: ?F6D]k^Am

kAm———k^Am

kAm©a_aa {@D p?86=6D %:>6D]’:D:E k2 9C67lQ9EEADi^^HHH]=2E:>6D]4@>^Qm=2E:>6D]4@>k^2m ]s:DEC:3FE65 3J k2 9C67lQ9EEADi^^HHH]EC:3F?64@?E6?E286?4J]4@>Qm%C:3F?6 r@?E6?E p86?4J[ {{r]k^2mk^am

Copyright 2022 Tribune Content Agency.

Share.

Comments are closed.