Bernie Sanders Proposes Taxing Wall Street to Pay Student Debts
- Proposal would end $1.6 trillion in debts for former students
- Legislation to be introduced days before Democratic debates
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Democratic presidential hopeful Bernie Sanders is proposing canceling the nation’s outstanding $1.6 trillion of student debt and offsetting the cost with a tax on Wall Street transactions.
The Vermont senator said Monday that his plan would provide debt relief to some 45 million Americans who have college loans. It would include a 0.5% tax on stock transactions, a 0.1% tax on bond trades and a .005% tax on derivatives transactions.