The architect behind Sen. Elizabeth Warren’s student debt forgiveness plan is set to fill a top economic adviser role in the Biden administration, according to CNN.
Jon Donenberg, who will be joining President Joe Biden’s National Economic Council as a deputy director, is currently working as Warren’s chief of staff but will start his new position next month, according to CNN. Besides creating Warren’s student loan plan, Donenberg also manufactured her tax proposals and advised a number of actions, including pushing for regulations from the Treasury Department to increase payments from high-wealth families, large multinational corporations, and hedge fund managers, according to Bloomberg. (RELATED: Americans Are Burning Through Savings To Keep Biden’s Economy Afloat, Experts Say)
“What he’s always brought to the policy-making process is both very data-driven but also very much thinking about how we can create an economy that works with everyone,” Deputy Treasury Secretary Wally Adeyemo told CNN.
Donenberg worked for Warren on her first Senate campaign in 2012 and before that under Rep. Henry Waxman and Sen. Richard Blumenthal, according to CNN.
Nice chart on how voluntary student loan payments started to pick up after SCOTUS struck down the Biden administration’s loan forgiveness plan and with the pending resumption in interest accrual. https://t.co/L9iSNYNZph via @LibertyStEcon pic.twitter.com/p5Y3x5Tvew
— Jason Delisle (@delislealleges) October 23, 2023
The Supreme Court struck down the president’s previous student loan forgiveness plan, finding that it was not under the authority of the executive to do so. The plan would have forgiven the loans of nearly 40 million Americans by canceling up to $10,000 in debt for non-Pell Grant recipients and up to $20,000 for Pell Grant recipients.
Warren’s 2016 plan would have immediately directed the secretary of education to cancel $50,000 in debt for 95% of student loan borrowers, according to Warren’s website.
Biden extended the moratorium on student loans that was put in place following the onset of the COVID-19 pandemic, delaying the reactivation of payments for more than 28 million borrowers. The president failed to extend it further, and payments resumed on Oct. 1.
The White House and Donenberg did not immediately respond to a request for comment from the Daily Caller News Foundation.
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