Former President Donald Trump offered his idea to limiting credit card interest rates to a max of 10% during a campaign event in Long Island this week.
BREAKING: Trump announces that as president, he will immediately implement a temporary 10% cap on credit card interest rates
— George (@BehizyTweets) September 19, 2024
"We can't let them make it 25% and 30%."
Credit card interest rates are at a historic high under the Kamala-Biden regime. His simple plan will alleviate… pic.twitter.com/yENoVsqv1S
According to the Federal Reserve, average credit card interest is around 22%, resulting from the COVID-19 lockdowns and drastic inflation from the Biden-Harris admin.
Opponents to the proposed measure call the idea “price control” and warn that it will restrict credit to low-income Americans and those who need it most won’t get credit approval.
Biden wants to talk about "how far we've come and how we got here."
— RNC Research (@RNCResearch) September 19, 2024
FACT: When President Trump left office, inflation was 1.4%, gas was $2.39/gal, and mortgage rates were ~2.7%. Under Harris-Biden, prices are up 20.3%, gas is ~40% higher, and mortgage rates tripled. pic.twitter.com/rL7h75GHbO
Trump has also pledged he will cut auto insurance rates in half.
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