Citigroup, Bank of America, and JP Morgan Chase should not be permitted to charge consumers 25- to 30-percent interest on their credit cards, especially while these banks received over $4 trillion in loans from the Federal Reserve.
The Senate voted 59 to 39 in favor of an amendment I offered to the Budget Resolution calling on the Fed to tell the American people who they loaned $2.2 trillion to and how much each bank received.
In 2001, Republicans used reconciliation to pass President Bush's $1.35 trillion tax cut that mainly benefited the wealthy.