Today in one sentence: Biden announced a new student loan forgiveness plan that would cancel student debt for more than 30 million borrowers; the Biden administration awarded a $6.6 billion grant to the world’s leading maker of advanced semiconductor chips to help it build three factories in Arizona; the chair of the House Permanent Select Committee on Intelligence warned that it was “absolutely true” that some Republican members of Congress were repeating Russian propaganda on the House floor; Trump declined to endorse a national abortion ban, saying he believes it should be a states' rights issue; Trump sued the judge overseeing his criminal hush money case in an effort to – again – delay the start of the trial; and Biden could be left off the ballot in Ohio.

1/ Biden announced a new student loan forgiveness plan that would cancel student debt for more than 30 million borrowers. Under the new plan, the administration would cancel up to $20,000 of a borrower’s accrued, unpaid interest regardless of their income. About 4 million student loan borrowers could see their debt fully canceled under the proposal, and an additional 10 million more borrowers could get $5,000 or more in relief. If the full plan is implemented, the Biden administration estimates it will “fully eliminate” accrued interest on 23 million borrowers’ unpaid balances. “This relief can be life-changing,” Biden said. “Folks, I will never stop to deliver student debt relief on hardworking Americans, and it’s only in the interest of America that we do it. And again, it’s for the good of our economy that’s growing stronger and stronger — and it is. By freeing millions of Americans from this crushing debt […] it means they can finally get on with their lives, instead of their lives being put on hold.” Since taking office, Biden has canceled $146 billion in student loans debt for 4 million public servants, defrauded students, disabled borrowers, and others already entitled to forgiveness under existing programs. About 43 million Americans have some form of student loan debt. (Axios / Associated Press / Politico / NPR / Washington Post / New York Times / CNN / NBC News / Wall Street Journal / USA Today)

2/ The Biden administration awarded a $6.6 billion grant to the world’s leading maker of advanced semiconductor chips to help it build three factories in Arizona. The funding, under the U.S. CHIPS and Science Act, will support Taiwan Semiconductor Manufacturing Company’s more than $65 billion investment in three fabrication plants in Phoenix. TSMC is also eligible for around $5 billion in loans under the CHIPS Act. “For the first time ever, we will be making, at scale, the most advanced semiconductor chips on the planet here in the United States,” Commerce Secretary Gina Raimondo said. Biden added: “America invented these chips, but over time, we went from producing nearly 40% of the world’s capacity to close to 10%, and none of the most advanced chips. (That exposes) us to significant economic and national security vulnerabilities.” The three fabs are expected to create about 6,000 direct manufacturing jobs and more than 20,000 construction jobs. (NBC News / Politico / CNN / CNBC / New York Times)

3/ The chair of the House Permanent Select Committee on Intelligence warned that it was “absolutely true” that some Republican members of Congress were repeating Russian propaganda on the House floor. “We see directly coming from Russia attempts to mask communications that are anti-Ukraine and pro-Russia messages,” Rep. Michael Turner said of his fellow Republicans, adding: “There are members of Congress today who still incorrectly say that this conflict between Russia and Ukraine is over NATO, which of course it is not.” Turner’s comments follow remarks from House Foreign Affairs Committee Chair Michael McCaul, who said Russian propaganda had “infected a good chunk of my party’s base” and suggested that conservative media was to blame. (Washington Post / NBC News / The Guardian)

4/ Trump declined to endorse a national abortion ban, saying he believes it should be a states’ rights issue. Trump, who has repeatedly taken responsibility for the Supreme Court overturning Roe v. Wade in 2022 because of the three conservative justices he appointed, said that it was “up to the states to do the right thing” on abortion, accusing Democrats of being “radical” on the issue. Following the Supreme Court ruling, Biden and Democrats have made abortion rights a central issue and voters have repeatedly voted in favor of greater abortion rights in state-level ballot measures, including in red states like Kansas and Kentucky. In a 604-word statement, Biden accused Trump of “lying,” saying: “Let there be no illusion. If Donald Trump is elected and the MAGA Republicans in Congress put a national abortion ban on the Resolute Desk, Trump will sign it into law.” Biden added that Trump was “responsible for creating the cruelty and the chaos that has enveloped America since the Dobbs decision.” Anti-abortion groups, meanwhile, said they were “deeply disappointed” in Trump’s refusal to endorse a federal ban on abortion. Nevertheless, the Susan B. Anthony Pro-Life America group and its members said they would continue to work “tirelessly” to defeat Biden and Democrats in November. (ABC News / NPR / Washington Post / New York Times / CNN / NBC News / Wall Street Journal / Politico / Associated Press / Axios / The Hill)

5/ Trump sued the judge overseeing his criminal hush money case in an effort to – again – delay the start of the trial. New York appeals court judge, however, rejected Trump’s request to delay his April 15 trial. Trump had asked an appellate court for a change of venue and for a stay of Judge Juan Merchan’s gag order that prevents Trump from attacking witnesses, prosecutors, court staff, and the judge’s family. Manhattan District Attorney Alvin Bragg, meanwhile, accused Trump of making a “last-ditch” bid to postpone the trial with his “effort to end-run” the gag order and “pollute the court” with attacks against the judge and his family “as part of a meritless effort to call the integrity of these proceedings into question.” (Associated Press / CNBC / The Hill / CBS News / New York Times / CNN)

6/ Biden could be left off the ballot in Ohio. Ohio’s presidential ballot law requires presidential candidates be certified 90 days before the general election, making the deadline Aug. 7. The Democratic National Convention, however, isn’t scheduled to convene until Aug. 19. The Secretary of State suggested that the issue could rectified in two ways: either the DNC moves up its nominating convention to meet the Aug. 7 deadline or by getting the state’s Republican legislature to “create an exemption to this statutory requirement.” Ohio voted for Trump in 2016 and 2020. (ABC News / NBC News / USA Today / Associated Press / Washington Post)

poll/ 21% of Americans think it would be “a good thing” if the next president has the power to change policy unilaterally without approval from Congress or the courts, while 30% think it’s neither good nor bad. (AP-NORC)

Four years ago today: Day 1175: "It's time to intensify."
Five years ago today: Day 809: A way forward.