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Trump Critiques Collins, Unveils 10% Credit Card Cap Plan

1/12/2026

46 8 Full Breakdown

Center

Trump Criticizes Collins

U.S. President Donald Trump criticized Sen. Susan Collins (R-Maine) for backing a war powers resolution over his actions in Venezuela.
He said the resolution limited his authority as commander-in-chief.
He announced a plan to cap credit card interest at 10% starting January 20, 2026.
Sen. Elizabeth Warren (D-Mass.) said the plan is ineffective without congressional support.
Banking groups warned the cap could reduce credit availability.

Left

Trump's Social Media Demands

U.S. President Donald Trump said social-media demands are law and called for a 10% cap.
He said credit card companies would violate law if they did not comply, though no law existed.
Banking industry opposed the proposal, warning it could limit credit for families and small businesses.
The Trump administration faced backlash over the killing of a U.S. citizen by an immigration agent, with officials accused of spreading false narratives.

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Trump Criticizes Collins

U.S. President Donald Trump criticized Sen. Susan Collins (R-Maine) for backing a war powers resolution over his actions in Venezuela.
He said the resolution limited his authority as commander-in-chief.
He announced a plan to cap credit card interest at 10% starting January 20, 2026.
Sen. Elizabeth Warren (D-Mass.) said the plan is ineffective without congressional support.
Banking groups warned the cap could reduce credit availability.

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