This is just another reason why it is a bad idea.
There is nothing “temporary” for the Feds (remember the recent Dem shutdown over “temporary” Covid subsidies?), nor do they stop when they get an inkling of power.
Start at 10% for credit cards, then it become 8%, then 5%, then it crosses over to banks, and auto loans, and mortgages, etc.
Ah…but Trump may have given Democrats their moment in the sun. Imagine if a bill is presented, and GOP grows a pair to say no to something Trump floated, in an election year…they will have democrats appealing to people who have been underwater after maxing out their 30% interest credit cards because of Bidenflation and that they want to lower and cap interest rates, and Republicans are opposing it. The thing is this…There are bill after bill of Republicans who have introduced ‘after the fact’ bills for something Trump said…renaming the Gulf of Mexico…issuing “tariff dividends”…and they go nowhere because Republicans forgot how to legislate.
I’m not saying it’s a good idea, but it’s an idea that may have fucked Republicans in the midterms…They don’t even have to pass the bill…just point out how Republicans are not supporting it. But the bills are already out there…and they are “bi partisan” for now. It will be fun to see waht Republicans do.
So it was politically stupid too.
Yep. But that’s what you get when members of the president’s party don’t have the balls to stand up to him. It doesn’t really matter because, since it’s bipartisan, when it fucks up in 2030 or so, the GOP will point to AOC’s name on the bill and absolve themselves of any responsibility.