Trump administration to start garnishing wages of student loan defaulters in January

>> GETTING SOME NEWS OUT OF WASHINGTON ON STUDENT LOANS.

FOR THAT, WE'LL TURN TO EMILY WILKINS. MORNING, EMILY.

WILKINS. MORNING, EMILY.

>> GOOD MORNING. CARL. WELL,

YES, THE TRUMP ADMINISTRATION IS ANNOUNCING THAT THEY ARE GOING TO BE GARNISHING WAGES FOR AMERICANS WITH STUDENT LOANS WHO ARE IN DEFAULT.

THAT'S ABOUT 5 MILLION AMERICANS AT THIS POINT. BUT

THE EDUCATION DEPARTMENT IS ACTUALLY EXPECTING THAT TO GROW POTENTIALLY TO 10 MILLION. THIS

IS, OF COURSE, THE FIRST TIME THE TRUMP ADMINISTRATION IS LOOKING AT TAKING FUNDS OUT OF A PAYCHECK TO REPAY THOSE LOANS THAT ARE CURRENTLY IN DEFAULT.

THE EDUCATION DEPARTMENT SAYS THAT THEY WILL BEGIN IN THE NEW YEAR WITH A GROUP OF JUST 1000, AND THEN FROM THERE, THEY WILL EXPAND THAT TO MORE WHO ARE IN DEFAULT WITH THOSE PAYCHECKS.

SO OF COURSE, THIS IS GOING TO IMPACT MILLIONS OF AMERICANS AND COMES AS THE TRUMP ADMINISTRATION IS CONTINUING TO TRY TO FIND WAYS TO REDUCE THE DEBT, REDUCE THE DEFICIT, AND PAY OFF THESE STUDENT LOANS.

GUYS.

>> IT'S GOING TO BE AN INTERESTING FIRST HALF. BETWEEN

THAT AND SOME OF THE TAILWINDS WE'RE GOING TO GET ON THE MACRO FRONT, EMILY. THANK YOU, EMILY

FRONT, EMILY. THANK YOU, EMILY WILKINS. IT HAS BEEN A CHOPPY

WILKINS. IT HAS BEEN A CHOPPY YEAR FOR THE RESTAURANT BUSINESS. AND THE FOOD INDUSTRY

BUSINESS. AND THE FOOD INDUSTRY HAS HIGH HOPES. EARLY

HAS HIGH HOPES. EARLY