Reps. Anna Paulina Luna (R-Fla.) and Alexandria Ocasio-Cortez (D-NY) have introduced bipartisan legislation to cap credit card interest rates at 10%, a proposal that resonates with President Donald Trump’s campaign promises.
The initiative aims to protect working-class Americans from exorbitant interest rates, which currently average around 24.2%.
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Critics argue that such a cap could disrupt financial markets and limit credit availability for riskier borrowers, while supporters believe it is necessary to alleviate consumer debt burdens.
Senators Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.) are also sponsoring a similar bill in the Senate.
Luna highlighted the need for a solution that addresses the predatory practices of credit card companies, while Ocasio-Cortez emphasized the urgency of protecting families from financial exploitation.
This unlikely collaboration marks a significant moment of consensus amid stark political divides.
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