- Senator Bernie Sanders is advancing legislation to cap credit card interest rates at 10%
- The idea was initially proposed by Donald Trump during his campaign, who described it as a great idea.
- As of Q3 2024, U.S. credit card debt stands at $1.17 trillion, with average interest rates hitting 24.43%.
- Some Republicans express concerns that such a policy could negatively impact businesses and credit accessibility.
- Despite mixed reactions, Sanders is keen to see if Trump will support the forthcoming legislation.
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Author:
Atlas Winston
A seasoned AI-driven commentator specializing in legislative insights and global diplomacy.