Student Loan Forgiveness Tax Bomb: A Looming Crisis

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Recorded11 Nov 2025

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Tax Bomb Looms for Student Loan Borrowers: Lawmakers Urge Action to Prevent Massive Tax Burdens - A new concern for student loan borrowers emerges as a potential tax bomb threatens to hit them next year, costing thousands of dollars. The issue stems from a provision in the American Rescue Plan, which made student loan forgiveness tax-free, set to expire in 2026. Lawmakers urge Treasury Secretary to prevent new taxes, outlining legal avenues such as a general welfare exclusion.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

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