Credit scores of millions could be improved by Biden plan

"Excluding medical debt from the calculation of credit scores could offer a much-need boost for Americans living paycheck to paycheck, who've found themselves financially strapped from outsized health bills," Thomas Gift, an associate professor who heads the Centre on U.S.

But, if approved, the proposal could turn into another move from the Biden administration which would rally voters around the president's campaign for 2024. The move—which would help borrowers by possibly increasing their credit score, making it easier for them to get a mortgage and buy a home, or own a small business—has been celebrated by many on social media who applauded the Biden administration for the proposal.

"This is so genuinely a huge deal to millions of patients. Medical debt should never have been impacting our credit in the first place—and yet it's kept so many of us from getting the homes, cars, and security we deserve," Samantha Reid of the Center for American Progress Action Fund wrote Thursday on X.

"Including #MedicalDebt on credit reports disproportionately harms disabled people, particularly disabled women of color. Thank you to the @CFPB for beginning this important rulemaking process," Marissa Ditkowsky, the Disability Economic Justice counsel at the National Partnership for Women & Families posted on X.

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