The Supreme Court ruled Friday that President Joe Biden's student loan debt forgiveness plan is unconstitutional, with Chief Justice John Roberts employing a "major questions" argument to nix usual court deference to executive branch agency. This means that the 26 million Americans who signed up for the debt forgiveness program will no longer have their debt partially or fully wiped away. The ruling has been met with criticism from both sides of the aisle and it remains to be seen how the Biden administration will respond to the ruling.
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The Supreme Court has ruled 6-3 against President Joe Biden's student loan debt relief plan, denying relief to 40 million Americans who stood to have up to $20,000 in student debt wiped away. The ruling invalidates the president's plan to forgive nearly half-a-trillion dollars in student loan debt, and is a major setback for Biden's promise to provide relief to millions of Americans struggling with student loan debt. The decision means that millions of Americans will continue to be burdened with student loan debt.
Kouri Richins, author of a children’s book about coping with grief, is facing a lawsuit in Utah state court for allegedly poisoning her husband and committing financial wrongdoing before and after his death. The lawsuit, filed by her late husband's sister, seeks over $13 million in damages for the financial losses suffered by Eric Richins’ family and punitive damages for Richins’ alleged actions. Richins has not yet commented on the lawsuit and a court date has not yet been set.
Florida Governor Ron DeSantis has proposed closing four federal agencies - Education, Commerce, Energy, and IRS - if he is elected president, in order to reduce the size of government and push back against "woke ideology" and "leftism". The proposal has been met with mixed reactions, with supporters arguing it would reduce costs and critics arguing it could lead to job losses. DeSantis has vowed to use the agencies to push back against "woke ideology" if Congress does not go along with his plan.
President Joe Biden delivered a major economic speech in Chicago on Wednesday, touting his administration's efforts to spark recovery after Republican policies had crushed America's middle class. A new poll from The Associated Press-NORC Center for Public Affairs Research showed that only one in three U.S. adults approve of Biden's economic leadership, which is even lower than his overall approval rating. Biden will continue to push his economic agenda and make the case for why his policies are the best way forward for the country.
This article discusses a new report from the Small Business Administration (SBA) which reveals that over $200 billion in federal aid to small businesses during the pandemic may have been given to fraudsters. The SBA Office of Inspector General found that the agency weakened or removed certain requirements to distribute the funds quickly, allowing fraudsters to take advantage of the situation. The SBA has since implemented measures to prevent fraud and is encouraging small business owners to report any suspicious activity to the SBA Fraud Hotline.
Ryan Reynolds and Rob McElhenney have joined an investment group taking a 24% stake in Formula 1 team Alpine Racing, worth approximately $218 million. This transaction values Alpine Racing Ltd. around $900 million and will "accelerate Alpine's growth plans and sporting ambitions in F1". The two actors have previously completed a $2.5 million takeover of Welsh soccer team Wrexham and are now looking to make a success of their latest investment in Formula 1.
On Monday, the ruble reached a 14-month low after an aborted weekend mutiny in Russia led by Yevgeny Prigozhin, the chief of Russia's Wagner mercenary group. The rebellion was ended after the Kremlin made an agreement to send Prigozhin to Belarus, and pardon him and his soldiers, brokered by Belarusian leader Alexander Lukashenko. Former U.S. director of national intelligence James Clapper said the deal appears "fishy," raising concerns about stability in the nuclear-armed country.