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New plans for student loan debt forgiveness are being proposed as President-elect Joe Biden prepares to take office in just a few weeks. Many of those with student loans, as well as many economists, are hopeful some form of student loan debt forgiveness will pass.“I think it is one of the most accessible ways President-elect Joe Biden has to stimulate the economy,” said Suzanne Kahn, director of education, jobs, and worker power at the Roosevelt Institute in New York.In an interview covering the possible benefits of student loan debt forgiveness, Kahn explained the two ways in which the Biden can get the debt forgiven. One, he can push for Congress to include this debt relief in the next stimulus package, or two, he can take executive action. Either option could eliminate student loan debt for roughly 15 million borrowers and reduce the debt of another 30 million Americans.The president-elect is currently focused on pushing for ,000 to be forgiven in the next stimulus bill and has not said if he would actually consider executive action. However, he has also not refuted that option either.The latter option is certainly the more controversial way to get this debt forgiven, although many Democrats argue it is still legal and fully within a president’s power to do so. Many high-ranking Democrats in Congress explain Biden would have the authority to do this through the Higher Education Act.Experts like Kahn believe it is more likely that Congress will not agree on any amount of student loan debt forgiveness and Biden will take executive action.“I think that it is through executive action, or at least the first movement we see around it will be executive action,” said Kahn. “That really is because the federal government owes 95 percent of student debt, and the Secretary of Education has the ability to cancel it.”“My stance is that it is not inevitable,” said Neal McClusky, director of the Center for Educational Freedom at the Cato Institute.McClusky believes a third option is that no form of student loan debt forgiveness is passed, while he concedes there is a chance that Biden could issue an executive order forgiving student loan forgiveness. However, he also points out that option could be challenged in the courts with some questioning his authority through the Higher Education Act.“There seems to be straws that he can grab and say, ‘Look, this gives me the authority to just write off this debt.’ Other people say it is not clear in the law that he can do that,” said McClusky. “So, what would be the most likely outcome is that he would try. If he were to try and cancel student loan debt through executive action, it would end up in court and would be a pretty long court battle.”So, at the end of the day, where do we really stand with student loan debt forgiveness? The consensus is that it is more likely than ever before that some form of student loan debt will be forgiven, but we’re still nowhere close to a guarantee that will actually happen anytime soon.“I don’t think it is inevitable, but I do think it is important that it is on the table,” said Kahn. 3115

New York Democratic congressional nominee Alexandria Ocasio-Cortez will win her general election race easily and become the youngest woman ever in Congress, CNN has projected.Having turned 29 last month, Ocasio-Cortez will inch out the previous holder of the distinction, New York Democratic Rep. Elise Stefanik, who was elected to Congress at age 30.Ocasio-Cortez defeated New York Democratic Rep. Joe Crowley in the primary election earlier this year. The victory was considered a stunner and helped make Ocasio-Cortez a national political figure.Crowley was the No. 4 Democrat in the House and seen as a potential speaker one day. His loss effectively handed the seat to Ocasio-Cortez, a Latina who has become a key left-wing voice.Ocasio-Cortez ran unabashedly to Crowley's left in the New York City district and previously worked as an organizer on Vermont independent Sen. Bernie Sanders' presidential campaign. She is the daughter of Puerto Rican parents and a member of the Democratic Socialists of America.The-CNN-Wire 1035

NEW YORK — Whether you thought SantaCon was naughty or nice, New Yorkers can check the annual bar crawl off their list this year.The organizers of SantaCon NYC have announced the event will not take place this year due to the coronavirus pandemic.“2020: The year there was no SantaCon. Remain home and stay on the Good List! We are all in this together so to keep the spirit alive, we have to socially distance and wear a mask. Looking forward to 2021,” an announcement on the official website says.Tha annual event calls on participants to dress up as Santa, elves or other Christmas creatures from the North Pole for a city-wide bar crawl. And while the event also doubles as a charity fundraiser, it's become a polarizing tradition in New York City.While thousands of Santas and elves flock to Manhattan for a day of revelry to celebrate the holiday season, many who live or work in the borough have long panned the alcohol-fueled behavior that would certainly put some participants on the naughty list, including brawls and arrests.This story was originally published by Lauren Cook on WPIX in New York City. 1120

NEW YORK (AP) — ABC will air “Black Panther” commercial-free Sunday as a prime-time tribute to Chadwick Boseman. The film will be followed by an ABC News Special, “Chadwick Bosmeman: A Tribute for a King.” Disney said the special “will celebrate Boseman’s storied life, legacy and career” and “shine a light on the medical condition he privately battled.” Boseman died Friday after a four-year battle with colon cancer. He was 43. The film will be broadcast at 8 p.m. EDT, with the special beginning at 10:20 p.m. EDT. 526

NEW YORK (AP) — Americans held back on spending during the start of the holiday shopping season, a troubling sign for retailers and the state of the U.S. economy. U.S. retail sales fell a seasonally adjusted 1.1% in November, according to the U.S. Commerce Department. It was the biggest drop in seven months, and a steeper decline than Wall Street analysts had expected. The Commerce Department on Wednesday also revised October’s report, saying that retail sales fell 0.1% that month, instead of rising 0.3% as it previously reported. Retailers had tried to get people to shop early, with Amazon, Best Buy, Walmart and others offering holiday deals in October.The report points to a weak start to the all-important holiday shopping season, which can usually account for a quarter or more of a retailer’s annual sales. Black Friday was also a bust. Typically one of the busiest shopping days of the season, shoppers mostly stayed home after health officials warned people not to shop in person, and retailers followed suit by putting their best deals online. Half as many people shopped inside stores this Black Friday than last year, according to retail data company Sensormatic Solutions.“It will take a miracle to keep retail sales positive in December,” said Chris Rupkey, chief financial economist at global financial group MUFG.It is also another sign that the pandemic is slowing the U.S. economy as stores face tighter restrictions and people stay away home. 1475