Bernie Sanders pledges to work with Trump to cap credit card interest rates

Bernie Sanders pledged to work alongside Donald Trump during his next administration. The independent senator from Vermont was recently re-elected to another term at 83 years old, so his stay in the Senate extends until 2030.

Sanders surprised on Friday night by expressing his willingness to work side-by-side with the Trump administration to cap credit card interest rates at 10%. "I look forward to working with the Trump Administration to make good on their promise to cap credit card interest rates at 10%," he wrote on his X account.

"We can no longer allow big banks to make record profits by gouging Americans by charging them interest rates of 25-30%," he added.

According to the Federal Reserve, the current average interest rate on credit cards is 21.5%, about six points higher than it was before the pandemic.

Sanders was very tough on the Democratic Party after the November 5 elections, in which the Republicans took the House of Representatives, the Senate and the White House. Specifically, he claimed the party had abandoned its historic voter base, the middle class.

"Here's the reality, the working class in this country is angry, and they have reason to be angry. Today we live in an economy where the people at the top are doing phenomenally well while 60% of our people are living paycheck to paycheck," he told CNN on Nov. 10.

"It shouldn't be a big surprise that a Democratic Party that has abandoned the working class finds that the working class has abandoned them," the Vermont senator added.