A couple more questions regarding the $10k "forgiveness" for student loans popped into my head overnight.
Will the $10k of "forgiveness" be treated as imputed income and will income tax be owed on it? So if a former student has a marginal income tax rate of 15% in 2022, will they find themselves owing an additional $1500 on April 15, 2023? This might be a good thing to know before the mid-term elections.
Also, suppose two people with student loans are contemplating marriage. Furthermore, suppose their combined income exceeds $125k per year. How will their income be calculated for "loan forgiveness" reasons? After all, if the Democrats forgave $10k in 2022 then it is reasonable to speculate that more will be forgiven in future years. If the household income is used to determine eligibility then the "forgiveness" will function as a marriage tax.