Republican Rep. Burgess Owens, who has declared personal bankruptcy five times and had $1.5 million of his debt discharged, held a hearing aimed at attacking Biden’s student debt forgiveness plan to forgive up to $20,000.
between 1968 and 1972, is now three times as expensive as it was when Owens graduated. The federal minimum wage then was higher than it is now, adjusted for inflation.
For Rep. Virginia Foxx , the chair of the House Education and Workforce Committee, tuition at University of North Carolina, Chapel Hill, was $310 when she graduated in 1968, or about $2,700 in today’s dollars. Now, tuition there is about $7,000, or an effective increase of 258 percent. Minimum wage then was $14 in today’s dollars — a large contrast to the current minimum wage of $7.25 federally and in North Carolina.
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