Reps. AOC and Anna Paulina Luna Team Up on Misguided Idea to Cap Credit Card Interest Rates – Twitchy
They say that the road to hell is paved with good intentions, and this is never healthier than it was when the government is going through legislation “to help.”
Take “reasonable care law”, for example. He was supposed to reduce health care costs while providing more people with health insurance. Now, prices have risen, and while people have insurance – because the government made it illegal no Insurance – they still cannot afford health care.
This is another example of the way the government is trying to solve a problem with a “solution” to make things worse:
For a very long time, credit card companies have offended the working class are ridiculous interest rates, besieging them with an amount that can almost be overcome from debt.
We need a just solution – this means getting rid of the current situation and putting a reasonable ceiling on interest rates. pic.twitter.com/lbebbqwmax
Representative Anna Polina Luna (Republica) March 8, 2025
This is a terrible idea. This will exclude those who have credit or weak credit market, affect companies that depend on consumer credit, and pay Americans from the working class who struggle financially to the arms of other lenders in reality.
No, this is an idea from the left -wing left wing that will harm people in reality people and companies that depend on consumer credit.
Again when you were born, you may not know that, but the benefit of the credit card was exempt from taxes. Why don’t you repeat it instead?
Dan, Human Tetris processor and a man on a chair (@libertybibable) March 8, 2025
Because this will be logical.
Huge credit card accumulation is a personal choice. Please show me, which amends the authority that gives the federal government the authority to interfere in a special contract.
– E__strobel (Witcohe_Bak) March 8, 2025
They did something similar to household loans and shattered the market in 2008.
Did you know that this means that no person with 500 credit will be able to properly access credit? Putting a ceiling on any type of price only causes the deficiency. But perhaps this is what you want in this case.
Sarah Higdon (sarahigdon_) March 8, 2025
Then the government will come to “reform” this problem as well.
If this bill succeeds, credit card companies will cancel cards with high risk card, and they will not have a place to operate except for the guaranteed cards. Is this really the result you want ????
The other brother Daril 🇮🇱 (d_pitz) March 9, 2025
Most of these people have no capital for a guaranteed credit card, anyway. So it makes things much worse.
This bill will be a catastrophe for the credit market
“Americans from the aggressive working class” will be frozen from the credit market
Many use these credit cards to build credit, which later helps them to do things like financing a new car or buying a house
– Haytham Kenway (@Haythamkenway99) March 9, 2025
The repercussions will be long and medium.
Say goodbye to the credit cards for the poor https://t.co/pxvmvgbut6
AlexanderPayton March 8, 2025
Yes. Goodbye to credit cards for low -income Americans.
Cortez is my socialist, declaring himself. Prices are the main element in socialism. How does hell you call yourself Republic and support this? https://t.co/lffbje9rmc
Capital frog (@frogNews) March 8, 2025
Excellent questions.
Determining interest rates does not mean more lending to the poor. congratulations. https://t.co/sgiaddfvux
Jardrabel March 8, 2025
High interest rates is how lenders reduce the risk of credit expansion to those with a weak credit history. This will spell the disaster.
There is the stupid party and the evil party. Sometimes they meet to do something stupid and evil. This is called “the two parties”. https://t.co/rcpu23363s
-Rand_simberg March 8, 2025
This is very perfect.
