The Missouri Republican's interest ceiling is a leftist price control by another name.
A bill attracting attention in the Senate would cap credit card interest rates at 18%. It's not sponsored by Sens. Sherrod Brown or Elizabeth Warren , stalwarts of the progressive Left.
But Hawley's proposal actually would cut off the very consumers he intends to protect from lines of stable credit. That's because price controls inevitably lead to shortages. So, should Hawley's proposal get enacted into law, there is likely to be less availability of credit, along with lower credit limits. All of which would affect most directly the"working class" people Hawley said he's advocating for.
Nor is it the first time Hawley, a graduate of Stanford and Yale Law School who clerked for Supreme Court Justice John Roberts, has pushed populist measures about which he should know better. The obvious point is they resonate with Americans less informed about economics because they look helpful in tough times.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sen. Josh Hawley's credit card rate cap bill should spark zero interest from fellow lawmakersThe Missouri Republican's interest ceiling is a leftist price control by another name.
Read more »
Hawley says Ukraine aid has no ‘end game’: ‘What about our nation?’Sen. Josh Hawley (R-MO) said he is “tired of hearing” about funding for the war in Ukraine.
Read more »
Hawley demands answers from Tyson Foods CEO on allegations of illegal migrant child laborMissouri Sen. Josh Hawley raises concerns over Tyson Foods' alleged involvement in illegal child labor, citing a New York Times report on migrant children's suffering.
Read more »
Cap credit-card interest rates to help Americans hammered by BidenomicsSen. Josh Hawley is calling on credit card APRs to be capped at 18% amid record high credit card debt and soaring interest rates.
Read more »
‘Million Dollar Listing’ Star Josh Flagg Launches Media Company Spotlighting Real-Estate Content CreatorsEstate Media, debuting with a slate of video series and podcasts from digital stars with a combined 25 million followers, also counts former Amazon Studios and Roku exec Griff O'Brien as a co-founder.
Read more »
Watch Josh Hutcherson Discover Oddly Specific Time Travel in This 57 Seconds ClipWhat would you do if you could turn the clock back 57 seconds? Be freaked out about it, probably.
Read more »