*By Justin Chermol*
The daunting task of paying back astronomical student loans may soon be less taxing, California Congressman Scott Peters tells told Cheddar Tuesday.
Rep. Peters (D-Calif.) has received 99 co-sponsors on his bipartisan Employer Participation in Repayment Act, which would allow employers to contribute to their employees' student loan payments, tax-free.
"The idea is this: if you go to work for a company, they can pay off up to $5,250 of your student loans in a year without it being income to you, so it's not taxable to you," Peters told Cheddar's J.D. Durkin.
"If you talk to any young person about ... the big thing on their mind: it's student loan debt. They're not buying a house, they're not getting a car, they're living with their parents, all because they have this burden."
According to a recent [report](https://www.federalreserve.gov/publications/files/consumer-community-context-201901.pdf) from the Federal Reserve, the rise in student loan debt from 2005 to 2014 has contributed to a decline in home ownership.
Nearly one in four American adults are paying off student loans. That amounts to over 44 million citizens who hold collectively almost $1.5 trillion in student debt.
"The average debt now, out of a public university: $30,000 for each kid," Peters said.
Peters also said that the bill could benefit the employer as well ー as educated talent will be attracted to jobs that offer this tax-free incentive.
Peter said he feels good about the bill's chances of at least making it to the House floor for a vote.
"I am more optimistic about that in this Congress with Mrs. Pelosi, rather than Mr. Ryan. I think that we are likely to deal with this issue in a serious way," Peters said. "That's the first step."
Democratic lawmakers worry that damage has been done to safety net programs and it'll be difficult to unravel that in the years ahead as Republicans demand further cuts.
The Department of Justice has informed former Vice President Mike Pence 's legal team that it will not pursue criminal charges related to the discovery of classified documents at his Indiana home.
Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the bipartisan deal and send it to President Joe Biden's desk to become law before the fast-approaching deadline.
He wasn't hurt and later joked that he "got sandbagged."
Canada will soon become the first country in the world where warning labels must appear on individual cigarettes.
Vice President Kamala Harris said Thursday that federal agencies are taking new steps to stop racial discrimination in appraising home values by proposing a rule intended to ensure that the automated formulas used to price housing are fair.
Centrist Democrats and Republicans pushed it to approval over blowback from conservatives and some progressives. The Senate is expected to act quickly by the end of the week.
The Oklahoma Supreme Court ruled on Wednesday that two state laws banning abortion are unconstitutional, but the procedure remains illegal in the state in nearly all cases except life-threatening situations.
A New York City police officer is speaking out against the use of “courtesy cards” by friends and relatives of his colleagues on the force, accusing department leaders of maintaining a sprawling system of impunity that lets people with a connection to law enforcement avoid traffic tickets.
A Pennsylvania restaurant owner who screamed death threats directed at then-House Speaker Nancy Pelosi while storming the U.S. Capitol was sentenced on Tuesday to more than two years in prison.
