Newsmax
Senators Josh Hawley, R-Missouri, and Bernie Sanders, I-Vermont, have proposed a 10% cap on credit card interest rates for five years.
Their bipartisan bill put forth Tuesday aims to relieve consumers burdened by high credit card debt and supports a campaign promise made by President Donald Trump.
The thinking behind the bill has gaimed broad public support, with 77% of surveyed individuals favoring a cap on rates, currently averaging 21.47%, and unpaid balances charging 22.80%.
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