1. United States
2. Wisc.
3. Letter

I urge you to support and co-sponsor the bipartisan legislation to cap credit card interest rates at (a very reasonable and still profitable) 10%. American backs are breaking as the economy continues to slump, Americans are increasingly reliant on lines of credit to meet everyday obligations. Yet average credit card APRs greatly exceed what many families can afford. This bill would provide meaningful economic relief to working Americans burdened by record-high debt. Senators of both parties have introduced this proposal to rein in predatory rates and protect consumers from excessive financial strain, yet it has stalled in Congress at a time when affordability is the central concern for almost every American. Please act to advance this common-sense reform that cuts across party lines and directly addresses the affordability crisis facing everyday households.