Overview

• President-elect Donald Trump proposed capping credit card interest rates at 10% during his campaign.
• Senator Bernie Sanders has publicly supported this proposal, calling current rates of up to 40% 'immoral.'
• The current average credit card interest rate is 21.5%, significantly higher than pre-pandemic levels.
• Sanders and Representative Alexandria Ocasio-Cortez previously introduced legislation to cap interest rates at 15%.
• This bipartisan effort reflects a rare alignment between Trump's economic policies and progressive goals.