The Republican senator from Texas picked up NTU analysis about the cost of forgiving student loan debt.
spoke to Kent Smetters, faculty director of the Penn Wharton Budget Model, who repeated that the debt forgiveness policy"is not funded with a tax but with deficits" but would not comment"on whether metaphors are appropriate."
So, not only will the current policy be financed by government borrowing , calculating an average cost now probably wouldn't accurately predict what its eventual tax bill might be. It's also worth mentioning that while the full NTU analysis explains the theoretical tax bill is spread across the course of the policy's 10-year budget, neither Cruz's tweet nor the NTU's tweet he quoted does so.
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