Senate Majority Leader John Thune and Speaker Mike Johnson voiced skepticism Tuesday on President Donald Trump’s move to temporarily cap credit card interest rates.
“I think that would probably deprive an awful lot of people of access to credit around the country,” Thune told reporters. “Credit cards would probably become debit cards.”
“That’s not something I’m out there advocating for — let’s put it that way,” he added.
Thune’s comments come after Trump posted on Truth Social that he was calling for a one-year cap of 10 percent interest on credit cards starting Jan. 20.