Governing has not gone well for liberals in Washington, D.C. so far. The gas lines are long, inflation is high, and there is a crisis at the southern border. Even the most fervent Biden supporters probably weren’t hoping for a return to the 1970s.
In just a few short months, liberal policies are demonstrating failure after failure, hurting everyday Missourians. Now, Democrats in Congress think taking away your credit card will somehow turn the economy around.
Thankfully, it looks like Senators Josh Hawley and Roy Blunt will stand up to the liberal assault to protect Missouri consumers, small banks, and mom-and-pop stores. With a 50-50 split in the Senate, even a single Republican defection on important votes could further erode traditional values and free markets.
Although gas shortages, inflation, the migrant crisis, and mortgaging our children’s future have receive most of the attention, it’s the attempt from Sens. Bernie Sanders (I-VT) and Dick Durbin (D-IL) to enact one of the largest and costliest regulations in American history that has me worried.
Back during the debacle that was Dodd-Frank and the failed Obama Presidency, Durbin — now the number two Democrat in the Senate — proposed an amendment that undid many of the features of your debit card and robbed consumers of billions of dollars each year. Unfortunately, Durbin’s amendment, which many Missourians have probably never heard of, resulted in the disappearance of free checking, the loss of consumer rewards, devastation to small banks, and more than one million Americans — and countless Missourians — losing access to mainstream financial services.
This new scheme is aimed at credit cards and will wipe out cash back rewards, hotel points, airline miles and other credit card benefits.
The average consumer, and thousands of small businesses, get about $170 each year from their credit card rewards. Based on our prior misadventures in regulating your debit card, rewards will be the first to go if Sanders and Durbin succeed over Blunt and Hawley. The number of different credit cards available will shrink dramatically, as well.
Although “populism” might be on the rise with segments of the Democratic and Republican Party — and for good reason — there’s nothing populist about taking money and basic financial access from ordinary Missourians. According to some estimates, as many as 8 million African Americans could lose credit access if Durbin and Sanders are successful. Sens. Blunt and Hawley must prevent that from happening to Missouri consumers.
The Show Me state is simply sick and tired of being governed by elites from New York and California in Congress. We should wake up every day blessed to be represented by two U.S. Senators focused on the wellbeing of Missouri consumers and small business — not the elite Tech Giants of the world who don’t have our best interests at heart.
With an equally divided Congress, it will be easy to spot the Republicans who stand for conservative values and the turncoats who embrace the radical Biden agenda. When it comes to immigration, energy, spending, your taxes, and your credit card, will conservatives stand up for Missourians, or will they side with Biden, Schumer, Durbin and their extreme left-wing agenda?