Donald Trump has been focusing on affordability in recent weeks, as voters have made it clear in polls that it’s one of their number one issues. Virtually everything skyrocketed in price under Bidenflation, and we’re still feeling the pain.
As I reported, the president wants to exclude institutional investors from the residential real estate market because he believes they are crowding out the average American and driving up prices.
RELATED: Making Homeownership Great Again: Trump Has Bold Idea to Make American Dream Affordable
The Left's 'Economic Malaise' Narrative Blown Apart by 'Unexpected' 3rd Quarter GDP Numbers
On Friday night, he laid out another vision: capping credit card interest rates at 10 percent. Anyone who has ever found themselves in hock to Visa/Mastercard et al. knows that the oppressive interest rates can make it very difficult to pay what you owe — because your debt just keeps getting bigger.
Trump wants to put a temporary end to that, as he laid out in a Friday night social media post:
🚨 BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by January 20, 2026
— Nick Sortor (@nicksortor) January 10, 2026
“We will NO LONGER let the American Public be ripped off by Credit Card Companies that are charging Interest Rates of 20 to 30%.”
Wow! pic.twitter.com/jYPOJL9LH2
He put the issue of high prices at the feet of the inflation-happy former president, Joe Biden. “Please be informed that we will no longer let the American Public be 'ripped off' by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more,” he wrote, “which festered unimpeded during the Sleepy Joe Biden Administration.”
He continued, noting that the effective date of his proposal coincides with the one-year anniversary of his second tenure in office:
AFFORDABILITY! Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%. Coincidentally, the January 20th date will coincide with the one year anniversary of the historic and very successful Trump Administration. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN! PRESIDENT DONALD J. TRUMP
It is unclear how he would make this happen: an executive order? A bill in Congress? A deal with the credit card companies? Time will tell.
HUGE: President Donald J. Trump announces a one year cap on Credit Card Interest Rates of 10% effective January 20, 2026. 💸 pic.twitter.com/WKJ4Fk4SnC
— The White House (@WhiteHouse) January 10, 2026
Trump has also been involved in a long-running battle with Federal Reserve Chairman Jerome Powell, who has steadfastly refused to lower interest rates as quickly as the president wants. Powell’s term ends in May, and you can expect Trump will have someone new in the role before the chairman has had time to shut the door to his office.
RedState will keep you updated on how this latest proposal plays out as Trump is increasingly focused on affordability, one of the Democrats’ key talking points. If he’s able to beat them on that, that would leave them with virtually nothing to run on — except, of course, “Trump sucks!”
Editor’s Note: Thanks to President Trump’s leadership and bold policies, America’s economy is back on track.
Help us continue to report on the president’s economic successes and combat the lies of the Democrats. Join RedState's VIP and use promo code FIGHT to receive 60% off your membership.
Join the conversation as a VIP Member