Reps. Luna and AOC team up on bipartisan effort to cap interest rates on credit cards

Rep. Anna Paulina Luna, Republican of Florida, and Rep. Alexandria Ocasio-Cortez, Democrat of New York, are teaming up on bipartisan effort to limit interest rates on credit cards.

"For too long, credit card companies have abused working class Americans with absurd interest rates, trapping them in an almost insurmountable amount of debt," Luna wrote on X alongside a photo of herself and Ocasio-Cortez.
"We need a fair solution — and that means getting rid of the status quo and putting a reasonable cap on interest rates."

Luna also wrote on X that "most Americans agree that insane credit card interest rates are PREDATORY and need to stop!"

The companion bill in the Senate was filed by Sen. Josh Hawley, R-Mo., and Sen. Bernie Sanders, I-Vt.

The legislation would cap credit card interest rates at 10%.