Dems Caved on Interest Rate Cap
My sources on Capitol Hill tell me that, indeed, the Rules Cmte would not agree to a vote on the Hinchey 18% interest rate cap amendment. Democrats were worried that either (A) Democrats would vote for the amendment, leading the full bill to pass without bipartisan support (who cares?), or (B) Democrats would not vote for the amendment, making them look bad.
Shame on Democrats for passing an essentially meaningless bill [which, because of the new implementation date, is redundant to federal rules that would have taken effect next year anyway], that, despite all the hoopla, is really the most worthless bill I’ve ever seen. Dems had a chance to really help the American people, and they chose not to do so.