Senator Elizabeth Warren is celebrating a massive new federal housing bill and demanding more government intervention to fix the affordability crisis, even as the very policies out of Washington continue to crush working families.
The ruling class broke the housing market and the American paycheck, and now they are selling bigger government as the cure. Warren is using the passage of the "21st Century ROAD to Housing Act" to push for credit card interest rate caps and grocery price controls, ignoring that the inflation driving these crises was born of federal money printing and bipartisan spending sprees.
In an op-ed for Fox News, Warren declared that "Congress broke the housing logjam," celebrating a bill that became law without President Trump's signature after he sat on it for over two weeks. She claims the law establishes "powerful federal incentives" to build housing, removes outdated rules, and "stops private equity from buying up single-family homes." Warren credited the bipartisan establishment—specifically Sen. Tim Scott and Rep. Maxine Waters—for pushing it across the finish line.
But for Warren, a bipartisan housing bill is just the foot in the door for more federal control. She immediately pivoted to capping credit card interest rates at 10%, accusing Trump of breaking a January promise to do so. "Families have already paid $368 million every single day for Trump’s broken promise," she wrote.
Senator Bernie Sanders echoed the attack, stating Trump "lied" about the 10% cap. According to Benzinga, Sanders pointed out that major banks earned $49 billion in profit last quarter while charging 25% to 30% interest rates. The math is brutal for working Americans, who currently owe roughly $1.25 trillion in credit card debt. Federal Reserve data shows the average assessed interest rate sits at 22.15%—more than double the proposed cap.
Follow the money, and the irony is thick. An Urban Institute study found growing numbers of Americans are relying on credit cards just to pay for groceries. Washington prints and spends the dollar into oblivion, devaluing working-class wages and forcing families to swipe plastic just to survive. Then, the same politicians who inflated the bubble cry foul when the banks charge exactly what the market allows on that unbacked debt. Banking groups have warned that mandatory interest-rate caps will restrict access to credit for the very people Warren and Sanders claim to protect. But when has the permanent political class ever let a market reality get in the way of a good soundbite?
Warren also demanded action on grocery costs via her "Price Gouging Prevention Act" and further interventions in health care, proving the appetite for federal control is never satisfied. The Sanders-Hawley 10% cap bill and the Warren-Scott housing bill reveal the real bipartisan consensus in Washington: both parties agree the federal government needs more power to fix the problems it created.
The same federal machinery that inflated the housing bubble and devalued the dollar now claims it can legislate your way out of the squeeze. The only question left is whether Washington will actually cap the rates, or just use the promise to keep the working class hooked on debt while the banks keep collecting their billions.
