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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Personal Financestudent loans and debt

Biden to announce more student-loan relief ahead of trip

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Justin Sink
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Bloomberg
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October 5, 2024, 6:10 PM ET
Joe Biden speaks
Joe Biden speaks during a briefing at the White House on Tuesday.Saul Loeb—AFP via Getty Images
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President Joe Biden is planning a pair of economic announcements — including new student loan debt relief — before departing for a trip to Germany and Angola as the White House seeks to harness momentum from recent positive economic data.

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Biden is set to announce next week that he’s expanding student debt relief for public workers, according to a senior White House official who described the plans on the condition of anonymity. He’s also expected to reveal federal actions as part of his administration’s efforts to replace the nation’s lead pipes within a decade.

The push — alongside an observation Monday marking last year’s Oct. 7 attack on Israel by Hamas militants, followed by a campaign event Tuesday night in Philadelphia — represent an increased public-facing cadence from Biden, who had curtailed his schedule after exiting from the presidential race this summer and endorsing Vice President Kamala Harris.

In recent days, Biden has notably increased his interaction with the White House press corps — including his first-ever appearance in the White House’s briefing room — as the administration seeks to highlight a strong jobs report, the resolution of a port workers’ strike and Hurricane Helene recovery efforts.

Read More: Biden Makes Surprise Appearance, Champions Economy Aiding Harris

“President Biden is seizing every opportunity to act on his agenda so we can keep fueling immediate economic growth and job creation now while also ensuring these historic investments he and Vice President Harris secured keep paying off for decades to come,” Biden communications director Ben LaBolt said in a statement. 

“That’s why this week, he’ll achieve more progress eliminating dangerous lead from drinking water — and creating good-paying jobs in the process — and by announcing additional student loan debt relief.”

Biden’s student loan announcement will come just days after a federal judge in Missouri temporarily blocked efforts to finalize a program that would have canceled as much as $20,000 in accrued interest on student loans and forgiven balances for longtime borrowers. 

The White House has been repeatedly stymied by federal courts as it’s sought to eliminate student debt, though the administration has canceled almost $170 billion so far.The lead pipe plan, expected to include both actions and funding, will add to $9 billion already announced by the administration.

In Germany, Biden is set to meet Ukrainian President Volodymyr Zelenskiy and the leaders of other allies at Ramstein Air Force Base.

Zelenskiy said he will present his victory plan at the summit, including “clear, specific steps for a just end to the war” that began with Russia’s full-scale invasion in 2022, according to a post Saturday to Telegram. Zelenskiy and Biden met late last month to discuss the proposal at the White House.

In Angola, Biden is scheduled to meet with President João Lourenço to demonstrate the strength of the relationship between their two countries, according to a statement last month from the US Embassy in Luanda.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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