*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."
New York has reported its lowest number of daily COVID-19 deaths in weeks. The state on Friday reported 422 deaths as of the day before.
The coronavirus first seen in China is now ravaging the U.S., and Asian Americans are continuing to wrestle with a second epidemic: hate. Hundreds of attacks on Asian people have been reported, with few signs of decline.
Stocks are holding steady in early trading Friday as Wall Street nears the end of its tumultuous week.
Some businesses in Georgia are reopening as the state's governor eases a month-long shutdown despite fears that a new wave of coronavirus infections could result.
Past studies have not found good evidence that the warmer temperatures and higher humidity of spring and summer will help tamp down spread of the virus.
Congress has delivered a nearly $500 billion infusion of coronavirus spending, almost unanimously rushing new relief to employers and hospitals buckling under the strain of a pandemic that has claimed almost 50,000 American lives and one in six U.S. jobs.
Outspoken New York Gov. Andrew Cuomo came for Senate Majority Leader Mitch McConnell in a press conference Thursday, accusing him of politicizing coronavirus relief efforts
The stock market ended another turbulent day more or less where it started after an early rally got washed away. The S&P 500 ended with a tiny loss Thursday, having given up an early gain of 1.6%.
New York Gov. Andrew Cuomo said Thursday that a state survey of about 3,000 people found that 13.9% had antibodies suggesting they had been exposed to the virus.
Hart Island is a mile-long patch of land in the Long Island Sound off the coast of the Bronx, which normally slips under the radar for most New Yorkers. In recent weeks, the unassuming island made headlines after drones captured aerial images of workers loading simple caskets three-deep into trenches wide enough to fit over 100 bodies.
