To: President Donald Trump, The United States House of Representatives, and The United States Senate

Cap Interest Rates Now

Put the pressure on Congress, the House and the Senate to lean on the finance companies that are charging high interest rates for auto loans and credit card purchases. The Middle Class is the backbone of this country and it is dwindling financially resulting in the inability to spend in order to revive our economy due to high interest rates and subsequent revolving debt.

Why is this important?

We have to put pressure on the auto finance industry as well as credit card companies to cap their interest rates for products and services to the middle class. The middle class uses credit cards and we are the largest group of outstanding auto loans and debt carriers. These auto loans for those without a credit score of 750 or above can go as high as 25%. I myself have been paying 21% on my auto. That said I have paid for my car twice. Credit card companies will offer an initial low interest rate until one payment is late or your credit score is below their standard and then it can skyrocket to as high as 35%. Because of this I have not had a credit card in 6 years. These companies make money from our purchases as well as our credit score. We, the middle class, make the economy; not the 1% of those that hold all the wealth in this country. What do these companies do with our money? Why have I had to pay for my car twice the amount of the selling price? Very often these companies ship their jobs, call center jobs, etc. over seas thus saving them money and making a large profit from the interest imposed. Perhaps some are investing in political campaign funding. The Middle Class is the backbone of this country and finance interest rates are at an all time high, giving these finance companies a huge profit while the middle class dwindle financially and is unable to spend in order to revive the economy. Put the pressure on to Cap Interest rates now!

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