In one of the most brazen political thefts in recent history, Donald Trump has hijacked the signature economic policy of the progressive left, announcing a 10% cap on credit card interest rates. The move, revealed on Truth Social, lifts the exact proposal championed by Senator Bernie Sanders and rebrands it as a Trump populism special. Starting January 20, Trump claims he will deliver what Sanders could not: an end to the “ripping off” of the American debtor.
The theft left Washington stunned. Just hours before the announcement, Sanders had attacked Trump for being a tool of Wall Street. Trump’s response was to steal Sanders’ thunder entirely, adopting the “anti-usury” stance and presenting himself as the true enemy of the big banks. This political jiu-jitsu neutralizes a key Democratic attack line and confuses the traditional ideological map.
The banking industry, however, doesn’t care whose name is on the policy—they hate it equally. A coalition of major financial groups slammed the cap as “devastating,” regardless of whether it comes from a socialist senator or a populist president. They warned that the policy would destroy the credit market, arguing that economic laws cannot be suspended by political maneuvering.
Senator Elizabeth Warren refused to applaud the theft, calling the announcement a “joke.” She argued that while Trump may have stolen the slogan, he hasn’t done the work to write the law. Warren accused him of co-opting progressive language to mask his history of deregulation, calling the entire episode a “fraud” on the voters.
Meanwhile, Senator Josh Hawley celebrated the move, seemingly unbothered by its progressive origins. His support confirms that on the issue of debt, the far left and the populist right have merged. Trump’s hijacking of the 10% cap proves that in 2026, ideology matters less than action.
