Yet another of the Trump administration’s proposed plots will carry the president’s name.
Kevin Hassett, the Director of the United States National Economic Council, said Americans can expect “great new Trump cards” from banks as the administration pushes for a credit card interest rate cap. He announced the new nickname during an appearance on Fox Business’s Morning with Maria on Friday.
Hassett did not provide much further explanation of the plan—or the new name—but claimed President Trump’s proposed 10% credit card interest cap would not require legislation.
“We’ve been in conversations with the big banks, with CEOs of many of the big banks, who think that the President is onto something, that he’s got a great idea,” Hassett told host Maria Bartiromo.
“Our expectation is that it won’t necessarily require legislation because there will be great new Trump Cards provided voluntarily by the banks,” Hassett added.
Trump proposed a 10% cap on credit card interest rates as his advisors push him to focus more of his presidency on affordability, all while he insists that the word “affordability” is a “hoax,” “fake narrative,” and “con job” made up by Democrats.
In a Truth Social post last week, Trump said that “Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%,” and added “AFFORDABILITY!”
In addition to the “Trump cards,” the Trump administration has named several Trump ventures after the president, including the soon-to-be-released “Trump Accounts” for children born between 2025 and 2028, and $1 milliion “Trump Gold Cards” for visa seekers.
The administration has also said it named federal buildings such as the U.S. Institute of Peace and the Kennedy Center after Trump, but it has not sought the approval from Congress, which is required to officially rename these buildings.
While Hassett insists that the credit card cap would not require legislation, that assertion may be because there is little appetite for such a cap among Republicans in Congress. Republican leadership and several GOP members have flat-out rejected the proposal.
“I think that would probably deprive an awful lot of people of access to credit around the country,” Senate Majority Leader John Thune told reporters. “Credit cards would probably become debit cards.”
“That’s not something I’m out there advocating for — let’s put it that way,” he added.
Even House Speaker Mike Johnson said the House “ought to think about and investigate” Trump’s proposal.
“The president is the ideas guy,” Johnson said, adding, “I wouldn’t get too spun up about ideas that are out of the box, that are proposed or suggested.”
Still, similar legislation to what the Trump administration is proposing has been introduced in the past.
Last year, a bipartisan group of members, including Reps. Alexandria Ocasio-Cortez of New York and Republican Anna Paulina Luna of Florida introduced legislation that would cap interest rates at 10%. Senators Bernie Sanders of Vermont and Josh Hawley of Missouri introduced similar legislation in the upper chamber.
That legislation has not been brought to the floor for a vote in either chamber.
The post Trump Goon Gives Bonkers Nickname to Credit Card Plot appeared first on The Daily Beast.
