Rachel Bade: “In the wake of Republican defeats last November, the president and his team have been turning over a new leaf. In recent days, they’ve embraced a series of longtime Democrat-backed economic proposals: Capping credit card interest rates. Limiting credit card swipe fees. Banning corporations from buying up single-family homes.”
“But the president’s populist push has been met with a cold shoulder from Republicans on Capitol Hill. This morning, Speaker Mike Johnson and Senate Majority Leader John Thune dissed the idea of interest rate caps, with the Louisiana Republican suggesting the White House “probably had not thought through” the repercussions and complications.”
Said Johnson: “I wouldn’t get too spun up about ideas that are out of the box.”
Said Thune: “That would probably deprive an awful lot of people of access to credit around the country. So, yeah… that’s not something I’m out there advocating for. Let’s put it that way.”
