Former US president Donald Trump’s proposal to cap credit card interest rates has reignited debate over the growing debt burden faced by millions of Americans. With credit card balances at record highs and interest rates remaining steep, the idea has gained attention among households struggling to keep up with repayments.
Supporters of the proposal argue that an interest rate cap could provide immediate relief to consumers by lowering monthly payments and reducing the long-term cost of borrowing. They say it could help families avoid falling into a cycle of debt, especially as inflation and high living costs continue to strain household budgets.
