The goal is get people back on a repayment plan, get them out of default. >> Education Secretary Linda McMahon has just launched a historic partnership to begin shifting the Department of Education's 1.7% trillion dollar student loan portfolio to the Treasury Department. It is the boldest move yet in the administration's plan to dismantle the agency and return power to the states.>> That is larger than the collective credit card debt in this country and twice the value of university endowments. I mean, that ...

Core Insights - Millions of Americans may receive the "largest tax refunds of their lives" due to the One Big Beautiful Bill Act (OBBBA), which aims to stimulate economic growth and is expected to resonate positively with voters [1][2] - The OBBBA includes various tax relief measures, eliminating several taxes related to tips and overtime pay, which could lead to significant refunds for taxpayers filing their 2025 returns [2][3] - The political implications of these tax refunds could be substantial for the Trump administration, especially in light of negative job data reported by economists [4] Tax Refunds Under OBBBA - Taxpayers are expected to see large refunds when filing their 2025 tax returns starting January 26, with a filing deadline of April 15 [3] - The OBBBA is designed to appeal to American voters by providing substantial tax relief, potentially making 2026 the "largest tax refund season ever" [3] Impact on Crypto Investors - The OBBBA does not extend tax relief to cryptocurrency investors, who are subject to capital gains taxes on transactions involving digital assets [5][6] - Crypto transactions are taxed as property, with short-term capital gains rates ranging from 10% to 37% for assets held for one year or less, and long-term rates of 0%, 15%, or 20% for assets held longer [5][6] - As more Americans, particularly younger individuals, engage in cryptocurrency investments, they may face financial challenges due to the lack of tax relief under the OBBBA [6]