Freedom Caucus member Anna Paulina Luna joins AOC to push 10% credit card interest rate cap

"The annual percentage rate applicable to an extension of credit obtained by use of a credit card may not exceed 10 percentage points, inclusive of all finance charges," the proposal stipulates.

Responding to a post on X that labeled Luna and her left-leaning compatriot "strange bedfellows," the GOP congresswoman noted, "I would argue it isn't strange at all. Most people agree insane credit card interest rates are predatory."

"And while working Americans catch up, we're going to put a temporary cap on credit card interest rates. We're gonna cap it at around 10%. We can't let them make 25 and 30%," he said.

"We're making that pledge more than a talking point by introducing legislation to protect working people from remaining trapped under mountains of debt," Ocasio-Cortez said of Trump's pledge, according to the congresswoman's press release about the proposed legislation.

"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 said, according to the press release. "We need a fair solution - and that means getting rid of the status quo and putting a reasonable cap on interest rates."