{"id":1030760,"date":"2024-04-17T20:45:18","date_gmt":"2024-04-17T20:45:18","guid":{"rendered":"https:\/\/democrats.org\/?p=1030760"},"modified":"2024-05-10T15:58:14","modified_gmt":"2024-05-10T15:58:14","slug":"new-maga-republicans-join-tim-scotts-push-to-support-big-credit-card-junk-fees","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-maga-republicans-join-tim-scotts-push-to-support-big-credit-card-junk-fees\/","title":{"rendered":"NEW: MAGA Republicans Join Tim Scott\u2019s Push to SUPPORT Big Credit Card Junk Fees"},"content":{"rendered":"\n
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In response to House Republicans holding a <\/em>vote<\/em><\/a> for a resolution to block President Biden\u2019s actions to cap credit card fees, <\/em>DNC Rapid Response Director Alex Floyd released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cMAGA Republicans on the Hill just wrapped up the least productive session of Congress in decades and are now spending their time shilling for big corporations that want to charge bogus junk fees that raise costs on consumers \u2013 it\u2019s like they\u2019re begging voters to fire them come November. While President Biden is fighting to bring down costs for working families and slash these junk fees, Donald Trump and his MAGA allies like Tim Scott are pushing to rig the economy for the ultra-wealthy and big corporations as part of their failed MAGAnomics agenda. When even two-thirds of Republican<\/em> voters in battleground states support President Biden\u2019s crackdown on junk fees, it makes you wonder who Trump and the MAGA Republicans in Congress really work for \u2013 because it certainly isn\u2019t working families.\u201d <\/p>\n\n\n\n

Donald Trump\u2019s MAGA allies like Tim Scott are railing against President Biden\u2019s actions that are lowering costs for hardworking families. <\/strong><\/p>\n\n\n\n

Politico<\/a>: \u201cConsumer advocates warn Republicans on CFPB rule \u2014 House Financial Services is planning to vote today on a GOP-led measure to block the CFPB\u2019s credit card late fee cap.<\/strong> Ahead of the markup, 90 consumer groups are urging lawmakers to oppose the resolution.\u201d<\/p>\n\n\n\n

Bloomberg<\/a>: \u201cTrump Ally Tim Scott Seeks to Block Biden Credit Card Late Fee Cap\u201d<\/strong><\/p>\n\n\n\n

\u201cA key Donald Trump ally is seeking a Senate vote to block a new Biden administration rule capping credit card late fees, targeting a high-profile initiative in the president\u2019s campaign to crack down on unpopular \u2018junk fees.\u2019 Senator Tim Scott, a potential Trump vice presidential pick and the top Republican on the Banking Committee, said Tuesday he would push the Senate to take action to block the new regulation, to be announced Tuesday at a meeting of the White House Competition Council.\u201d<\/p>\n\n\n\n

\u201cHouse Financial Services Chairman Patrick McHenry of North Carolina also opposed the new rule in a statement \u2026 \u2018The Biden Administration continues to weaponize financial regulators to play politics in an election year,\u2019 McHenry said.\u201d<\/p>\n\n\n\n

CNN<\/a>: \u201cCredit card late fees capped at $8 as part of Biden crackdown on junk fees\u201d<\/strong><\/p>\n\n\n\n

\u201cFederal regulators finalized a rule on Tuesday to cap most credit card late fees at $8 as part of a broader push by the Biden administration to eliminate junk fees.\u201d<\/strong><\/p>\n\n\n\n

\u201c<\/strong>The Consumer Financial Protection Bureau estimates the new regulation, first proposed last summer, will save families more than $10 billion a year by cutting fees from an average of $32.\u201d<\/strong><\/p>\n\n\n\n

Newsweek<\/a>: \u201cCredit Card Fees Slashed for Millions of Americans\u201d<\/strong><\/p>\n\n\n\n

President Biden\u2019s actions to cut junk fees are popular across the political spectrum: Even two-thirds of Republicans in battleground states back President Biden\u2019s agenda to help Americans\u2019 pocketbooks. <\/strong><\/p>\n\n\n\n

Navigator Research<\/a>: \u201cNearly Nine in Ten Battleground Constituents Want Congress to Pass Laws Banning or Limiting Junk Fees\u201d<\/strong><\/p>\n\n\n\n

\u201cBy a 79-point margin, nearly nine in ten battleground constituents support congressional action on junk fees.\u201d<\/p>\n\n\n\n

\u201cNearly three in four battleground constituents believe that it is important for Congress to address hidden and unexpected fees (73 percent), including 85 percent of Democrats and 67 percent of both independents and Republicans.<\/strong> An even larger share \u2014 87 percent \u2014 support Congress passing a ban on hidden and unexpected fees altogether, while just 8 percent are opposed. Support for congressional action is strong across partisanship, including 95 percent of Democrats, 85 percent of independents, and 81 percent of Republicans.\u201d<\/strong><\/p>\n\n\n\n

Data For Progress<\/a>: \u201cWe also tested support for the Junk Fee Prevention Act, which would ban hidden or extra fees on items like cable and cell phone bills, apartment rental applications, and concert and sporting event tickets. We find that the proposal is overwhelmingly popular, with support from 77% of voters \u2014 including 81% of Democrats, 78% of Independents, and 72% of Republicans.\u201d<\/p>\n\n\n\n

Morning Consult<\/a>: \u201cA new Morning Consult survey shows Biden\u2019s proposals have bipartisan support, with clear majorities of Democrats, Republicans and independents saying Congress should pass laws limiting these so-called \u2018junk fees.\u2019 Overall, about 3 in 4 Americans support the measures.\u201d<\/p>\n\n\n\n

Navigator Research<\/a>: \u201cMore than three in five independents (64%) and Republicans (62%) support Biden and Democrats\u2019 Junk Fees Prevention Act. \u2026 Even higher shares support their plan to lower limits on credit card late fees (74% independents, 68% Republicans).\u201d<\/p>\n\n\n\n

Global Strategy Group<\/a>: \u201cCosts remain Americans\u2019 top concern, and most believe the Administration\u2019s work to crack down on \u2018price gouging\u2019 and eliminate \u2018hidden junk fees\u2019 will lower costs for them. Two thirds (68%) say hidden junk fees are a growing problem, and 60% also believe \u2018crack[ing] down on price gouging by banning hidden junk fees\u2019 would be effective at lowering costs.\u201d<\/p>\n\n\n\n

While President Biden works to lower costs for hardworking families, Donald Trump\u2019s MAGAnomics agenda is all about rigging the economy for the ultra-wealthy \u2013 which he has promised to double down on in a second term. <\/strong><\/p>\n\n\n\n

Trump<\/a>: \u201cYou\u2019re all people that have a lot of money \u2026 You\u2019re rich as hell. We\u2019re gonna give you tax cuts.\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law \u2026 Further cutting corporate taxes \u2026 would primarily benefit large firms.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201c[Trump] intends to center his economic plans on extending and deepening the Republican tax cuts from 2017.\u201d<\/strong><\/p>\n\n\n\n

Vanity Fair<\/a>: \u201cDonald Trump Wants to Give His Favorite Corporations Another Giant Tax Cut in a Second Term: Report\u201d<\/p>\n\n\n\n

CBS News<\/a>: \u201cTwo years after Trump tax cuts, middle-class Americans are falling behind\u201d<\/strong><\/p>\n\n\n\n

Forbes<\/a>: \u201cTrump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018\u201d<\/strong><\/p>\n\n\n\n

Economic Policy Institute<\/a>: \u201cThe TCJA overwhelmingly benefited the rich and corporations while overlooking working families\u201d<\/p>\n\n\n\n

Trump wants the U.S. economy to crash for his own political gain. <\/strong><\/p>\n\n\n\n

Trump<\/a>: \u201cAnd when there\u2019s a crash \u2014 I hope it\u2019s going to be during this next 12 months because I don\u2019t want to be Herbert Hoover. The one president I just don\u2019t want to be, Herbert Hoover.\u201d<\/p>\n\n\n\n

Daily Beast<\/a>: \u201cDonald Trump admitted Monday that he wants a severe economic downturn to happen during the next year, because it will help his odds of winning the presidential election.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In response to House Republicans holding a vote for a resolution to block President Biden\u2019s actions to cap credit card fees, DNC Rapid Response Director Alex Floyd released the following statement:  \u201cMAGA Republicans on the Hill just wrapped up the least productive session of Congress in decades and are now spending their time shilling for […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1030760","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW: MAGA Republicans Join Tim Scott\u2019s Push to SUPPORT Big Credit Card Junk Fees - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-maga-republicans-join-tim-scotts-push-to-support-big-credit-card-junk-fees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-17T20:45:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-10T15:58:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-maga-republicans-join-tim-scotts-push-to-support-big-credit-card-junk-fees\/\",\"url\":\"https:\/\/democrats.org\/news\/new-maga-republicans-join-tim-scotts-push-to-support-big-credit-card-junk-fees\/\",\"name\":\"NEW: MAGA Republicans Join Tim Scott\u2019s Push to SUPPORT Big Credit Card Junk Fees - 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