The Biden administration’s student-loan forgiveness will be considered taxable income in North Carolina, the state’s Department of Revenue announced on Wednesday. “As part of the American Rescue Plan, Congress enacted Section 108(f)(5) of the Internal Revenue Code to expand the types of student loan forgiveness that would not be treated as taxable income for purposes
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On Wednesday, Democrat President Joe Biden claimed that his $1.9 trillion American Rescue Plan was responsible for the “economic recovery” in the United States. “The American Rescue Plan took America from an
Over the weekend, former Clinton administration adviser Paul Begala slammed President Biden’s student debt cancellation plan, saying it is “bad policy, as well as bad politics.” “For that amount of money, you
Democrat President Joe Biden’s student debt cancellation plan will cost the average taxpayer more than $2,000, according to a new report from the nonpartisan National Taxpayers Union Foundation. The report cited an
As inflation remains near record high levels, President Biden unveiled a plan on Wednesday to cancel $10,000 in student loan debt for borrowers making less than $125,000 per year. According to a
