Senator Marshall: I am Fighting for Main Street Over Wall Street
Senator Marshall Joins Fox Business to Discuss the Cost of Living & Unfair Credit Card Interest Rates & Swipe Fees
Washington – On Monday,U.S. Senator Roger Marshall, M.D. (R-Kansas), joined Fox Business’ Mornings with Maria to discuss the investigation into Federal Reserve Chair Jerome Powell, and the work Republicans are doing to bring down costs and revive the American dream, including President Trump’s push to cap credit card interest rates.
Click HERE or on the image above to watch Senator Marshall’s full interview.
On the investigation into Jerome Powell:
“Well, Maria, Jerome, “too late” Powell, he’s the one that’s made this political. You go back to the last presidential election, right before the election, he drops the interest rates. Did we even need a new federal building? It was budgeted under 2 billion. It’s two and a half billion dollars. I think this President is sending a message to everybody that we’re going to be looking out for fraud, waste, and abuse. Meantime, we have a housing crisis out here, and interest rates remain too high, and people can’t achieve that American dream of owning their own house?”
“I will let the system play through here. I think there’s other issues that we should be focused on. I think this is the President throwing out one more. Maybe he’s even almost trolling here as well. We got bigger issues to go after than this one now, all right.”
“It’ll be tough, unless we get some cooperation, especially within our own caucus, so that our caucus has to stick together. I think that we can do this with 50 votes for the most part. So, I do think there’s still a path to victory here.”
“I think that the President will lean into this. Our caucus, the Republican caucus, will have to stick together to get this done. And there’s still plenty of time to kind of work this out. I think what we’re seeing here is the President negotiating once again, and he’ll put his shoulder behind this issue, and we’ll sort it out one way or the other.”
“Look, I’m always going to be out here fighting for hard-working Americans. I’m going to be fighting for Main Street over Wall Street. Look, two credit card companies work hand in glove; they and about five banks control 80% of this industry. Because of that, Americans are paying seven times more for swipe fees. These banks are charging 20 to 30% interest. You think about this, the average family back home carries $7,000 of credit from month to month at a 30% interest rate, that’s well over $100 a month. That’s not fair. This monopoly is why this is happening. Desperate times call for desperate measures. If we can fight for hard-working Americans, I’m right behind President Trump on this one.”
“So I don’t think you’re going to find anybody feeling sorry for big banks. The credit card companies have 45-55% profit margins. Banks [have] 20-30% profit margins. I think they’ve got a little bit of wiggle room. Let’s help the American families out.”
On insider trading in Congress:
“Absolutely, 110% I’ve supported it from day one. I personally do not do any type of day trading, just for this reason. I think it’s a bad look. I think that Congress should get behind this and pass it immediately and get it to the President’s desk.”
On reviving the American dream:
“Well, I think that on the budget committee, we can do a reconciliation bill. Let’s focus on the cost of living. After four years of Joe Biden, housing has gone up some 50% the same way with property and health insurance, and childcare has gone up a lot as well. So, let’s address those through a reconciliation bill. We’re not going to get any help from Democrats. So, I think there’s methods, there’s ways, there’s legislation we can do to help bring down the cost of living for hard-working American families.”
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Contact: Payton Fuller
