WSJ: DOE official who oversaw student loans to run for Senate
(CNN) - A top Education Department official who oversaw student loans said he is resigning and will seek a soon-to-be vacant Senate seat, running on a plan to cancel student loans, The Wall Street Journal reported Thursday. Prior to holding that position, Johnson, who was first appointed to the department in 2017 by Secretary Betsy DeVos, served as chief operating officer of the Office of Federal Student Aid, where he oversaw $1.5 trillion in student loans, according to the paper. Johnson told the newspaper that he took up the position of forgiving student loans after he got a firsthand look at the problem through his role at the department. If elected, Johnson would also "advocate for a tax credit of up to $50,000 for people who already repaid student debt, which he sees as key to attracting wider support for canceling student debt," the Journal said. To pay for the plan, Johnson suggested to the newspaper that a 1% tax be placed on corporate earnings.