Trump's Proposal to Cap Credit Card Interest Rates Faces Bipartisan Criticism

Former President Donald Trump's plan to limit credit card interest rates to 10% is met with opposition from both Republicans and financial experts.

Trump's proposal aims to provide temporary relief for Americans burdened by high credit card interest rates, which average over 20%.
Republican lawmakers argue that capping interest rates would reduce access to credit for many consumers, particularly those with lower credit scores.
Financial experts warn that the proposed cap could lead to unintended consequences, including higher fees and reduced credit availability.
Consumer advocates express skepticism about the feasibility and effectiveness of the cap, noting that similar measures have stalled in Congress.
The plan is part of Trump's broader economic campaign promises, which include eliminating taxes on tips and making in vitro fertilization treatments free.