Sen. Bernie Sanders (I-Vt.) and Rep. Pramila Jayapal (D-Wash.) introduced legislation on Wednesday to make college tuition free for many Americans, which would be paid for by a tax on Wall Street, The Hill reported. The bill would make community college tuition-free for everyone and four-year public colleges tuition-free and debt-free for students from families making up to $125,000 per year. The bill would also allow students from families who make up to $125,000 per year to attend private, non-profit minority-serving institutions tuition-free including Historically Black Colleges and Universities, Hispanic-Serving Institutions, Tribal Colleges and Universities, Asian American and Native American Pacific Islander Serving Institutions. And it would double the maximum Pell Grant to $12,990, which could be used for living and non-tuition expenses, and would expand eligibility to "Dreamers," immigrants brought into the country illegally as children. The bill would be paid for by a tax on some Wall Street trades. Sanders said he would separately re-introduce a bill, known as the Tax on Wall Street Speculation Act, on Wednesday. It would put a 0.5 percent tax on stock trades, a 0.1 percent tax on bonds and a 0.005 tax on derivatives.
