US House Speaker Johnson says credit card rate cap should be looked into by Congress

[BumRushDaShow]

Source: Reuters

January 13, 2026 11:18 AM EST Updated 6 hours ago

WASHINGTON, Jan 13 (Reuters) - U.S. House Speaker Mike Johnson on Tuesday said Congress should explore President Donald Trump's idea of imposing a cap on credit card interest rates but warned of the possibility of "negative secondary effects."

Johnson, a Republican, told reporters that the House of Representatives "ought to think about, investigate" Trump's proposal that was floated on Friday.

But he added, "Are there unintended consequences" that could trigger "negative secondary effects." Johnson expressed the possibility that companies "stop lending money and maybe they cap what people are able to borrow to a very low amount."

Trump said he wanted a one-year cap on credit card interest rates at 10% beginning on January 20, the one-year anniversary of the start of his second term as president. But he did not say how that would be accomplished, leading to questions over whether he would try to impose the action through executive order.

Read more: https://www.reuters.com/world/us/us-house-speaker-johnson-says-credit-card-rate-cap-should-be-looked-into-by-2026-01-13/

[bucolic_frolic]

1. Free market Republicans sense a difficult election cycle in 2026. Cue the Kabuki. /nt

[hlthe2b]

2. How 'bout we get the nation's ortho and neuro surgeons together to see if they can transplant you

a damned spine, you worthless, cowardly sycophantic slug? Can he say ANYTHING or DO ANYTHING not pre-approved by the orange menace?

[Prairie Gates]

3. Tomorrow and tomorrow and tomorrow

Form a committee. A sub-committee. A working group.

Tell us about a potential task force.

I'm sure you'll generate a nice working paper with very serious recommendations to be implemented 2038-2043. These things take time, you know?

[wolfie001]

4. Here comes the price controls

More Socialism from these mf'ers.

[Miguelito Loveless]

5. So, "No!"