Mobile billboard asks Rep. Van Orden to vote against keeping credit card late fees high

Opportunity Wisconsin billboard will highlight a Republican proposal that would keep late fees high as Wisconsinites use credit cards to pay for summer tailgates and more

Tuesday, May 14, 2024

LA CROSSE, Wis. – Today, a new mobile billboard from Opportunity Wisconsin will ask Congressman Derrick Van Orden to oppose a Republican-backed measure which would keep credit card late fees high. The billboard will be at locations throughout La Crosse today to highlight the proposal that would protect high late fees that are costly to working families using credit cards for common purchases, including tailgate supplies.

Last month, Republicans on the House Financial Services Committee voted to approve H. J. Res. 122, which would repeal a rule from the Consumer Financial Protection Bureau (CFPB) capping credit card late fees at $8. The measure could soon face a vote in front of the entire House of Representatives, giving Van Orden an opportunity to vote in favor of working families instead of credit card companies and corporate special interests. 

On Friday, a federal judge put a temporary injunction in place to block the CFPB rule from going into effect following a lawsuit filed by the U.S. Chamber of Commerce and big bank special interests. The lawsuit seeks to permanently block the CFPB rule from going into effect—therefore keeping Americans’ credit card late fees high. 

As Congress considers a vote on H.J. Res 122, corporate special interests are working overtime to stop consumer protections that would save Americans hundreds of dollars a year. If implemented, the new cap on credit card fees is estimated to save 45 million Americans an average of $220 per year. The cap is opposed by credit card company special interests, who have contributed millions to key Republicans in Congress.

“As Wisconsinites enjoy summer, they shouldn’t have to worry about paying higher fees,” said Opportunity Wisconsin Program Director Meghan Roh. “Congressman Van Orden needs to vote against this resolution. Working families shouldn’t pay more when they use their credit cards for everything from gas and groceries, to supplies for the perfect tailgate. We hope Congressman Van Orden stands up to the big banks and credit card companies and instead fights for working families who will be forced to pay more if this resolution takes effect."

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Mobile billboard highlights Rep. Steil’s vote to keep credit card late fees high

Opportunity Wisconsin billboard will highlight Steil-backed proposal that will keep late fees high as Wisconsinites use credit cards to pay for summer tailgates and more

Thursday, May 9, 2024

KENOSHA, Wis. – Today, a new mobile billboard from Opportunity Wisconsin will highlight Congressman Bryan Steil’s recent vote to keep credit card late fees high with stops in Racine, Kenosha, and near American Family Field as Brewers fans tailgate this afternoon. Under the Steil-backed proposal, working families could continue to be hit with high late fees after using credit cards for common purchases, including tailgate supplies.

Last month, Steil joined Republicans on the House Financial Services Committee in voting to approve H. J. Res. 122, which would repeal a rule from the Consumer Financial Protection Bureau capping credit card late fees at $8. The measure could soon face a vote in front of the entire House of Representatives, giving Steil an opportunity to reverse his position and vote in favor of working families instead of credit card companies and corporate special interests. 

If implemented, the new cap on credit card fees is estimated to save 45 million Americans an average of $220 per year. The cap is opposed by the nation’s largest credit card companies and industry groups, who have contributed more than $241,000 to Steil during his career, in addition to thousands of dollars in contributions this year alone.

“As Wisconsinites enjoy summer, they shouldn’t have to worry about paying even more in fees,” said Opportunity Wisconsin Program Director Meghan Roh. “But if Congressman Steil votes again to keep credit card late fees high, working families risk paying even more after using their credit cards for everything from gas and groceries, to supplies for the perfect tailgate. Congressman Steil needs to stand up to the big banks and credit card companies and fight for working families who will be forced to pay more if this resolution take effect."

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Statement on President Biden’s visit to Racine

President Biden continues to invest in projects that are creating jobs and growing Wisconsin’s economy

Wednesday, May 8, 2024

RACINE, Wis. – Opportunity Wisconsin Program Director Meghan Roh released the following statement ahead of President Biden’s visit to Racine this morning:

“President Biden has prioritized investments that are bolstering Wisconsin’s economy, creating jobs, and growing opportunities for Wisconsin workers. Whether it’s supporting developments like Microsoft’s expansion in Racine, or lowering the cost of health care and prescription drugs through legislation like the Inflation Reduction Act, President Biden’s leadership has made our state stronger. 

“As he returns to Wisconsin today, Congress still has the opportunity to support the President’s next federal budget proposal. His plan includes tax cuts for working families and forces billionaires and big corporations to pay their fair share. By improving tax fairness, we can strengthen programs that support working families and seniors, including Medicare and Social Security. It’s time for Congressman Bryan Steil to work with President Biden and find common ground on policies that help Wisconsinites succeed.”

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Does Rep. Bryan Steil support proposals to eliminate the $35 insulin cap and raise the retirement age?

Steil previously voted against capping insulin costs and is a member of the Republican Study Committee, which proposed repealing the Inflation Reduction Act’s $35 cap on the cost of insulin and raise the retirement age

Tuesday, April 30, 2024

KENOSHA, Wis. – The extreme Republican Study Committee, of which Rep. Bryan Steil is a member, proposed a budget that would eliminate a $35 cap on the cost of insulin created by the Inflation Reduction Act and raise the retirement age for Social Security. Given his repeated votes against capping insulin costs: does Rep. Steil support those provisions of a budget championed by a group that he is still a member of?

The proposals to raise costs and threaten programs that support many Wisconsinites were included in the Republican Study Committee’s proposed FY2025 budget released last month. If passed, the proposal would repeal the Inflation Reduction Act’s $35 cap on insulin costs and $2,000 annual cap on out-of-pocket prescription drug costs for Medicare recipients, forcing Wisconsinites to pay more for the prescriptions they need. Steil has previously voted to keep prescription drug costs high, including voting against the Affordable Insulin Now Act and the Inflation Reduction Act, both of which included a cap on insulin costs.

The budget also makes major changes to Social Security and Medicare benefits, threatening retirement security for millions of Americans. It would raise the retirement age for Social Security benefits and force trillions of dollars in cuts to Social Security and Medicare over the next decade. Unlike President Biden’s budget proposal which would strengthen these programs by closing tax loopholes and forcing the ultra-rich to pay their fair share, the RSC budget repeals some taxes on these wealthy individuals entirely.

“It’s time for Congressman Steil to tell his constituents where he stands on these extreme proposals that would raise costs and threaten benefits for millions of Wisconsinites,” said Opportunity Wisconsin Program Director Meghan Roh. “Working families and seniors don’t deserve to have their Social Security and Medicare benefits threatened, or be forced to pay more for the prescription drugs they need, like insulin. Congressman Steil should reject these extreme proposals and work with his colleagues to lower costs and protect these programs for future generations by supporting President Biden’s budget instead.”

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ONE YEAR AGO: Reps. Steil and Van Orden voted to slash veterans’ health care, access to Social Security and Medicare benefits, and food assistance

The extreme Default on America Act would have threatened vital programs while giving more handouts to big corporations and protecting wealthy tax cheats

Friday, April 26. 2024

MADISON, Wis. – Today marks the one year anniversary of Congressmen Bryan Steil and Derrick Van Orden’s vote in favor of the Default on America Act, a devastating proposal which included cuts to programs that support families across Wisconsin while giving even more tax breaks to big corporations.

Steil and Van Orden backed provisions of the Default on America Act, including:

• Cutting Access to Health Care for Veterans: The Default on America Act would have drastically reduced funding for the Department of Veterans Affairs, forcing staffing reductions and reduced access to appointments. One report found that the proposal could have meant as many as 13 million fewer health care appointments for veterans, in addition to reduced staffing, lower benefit payments, and delays on construction of clinics.

• Reduced Access for Social Security and Medicare Benefits: Cuts to Social Security Administration funding would have forced the layoffs and closures at field offices, and cuts to the Centers for Medicare and Medicaid Services would have hampered the agency’s ability to serve seniors who need assistance. That would lead to additional delays in applying for benefits and make it tougher for Wisconsinites to access the support they need from these programs.
  

• Slashing Food Assistance Programs: Cuts to nutrition assistance programs could have been devastating for Wisconsin families. Cuts to the SNAP program would have threatened benefits for 14,000 Wisconsinites, more than 1 million seniors nationwide would have lost access to Meals on Wheels under the bill, and nearly 1.2 million women, babies, and children would be at risk of losing WIC benefits.
  

• More Handouts to Big Corporations and Protections for Wealthy Tax Cheats: The bill included provisions to repeal taxes and fees on big oil and natural gas companies, which would have helped them avoid paying their fair share of taxes. It also would have repealed funding that the IRS is already successfully using to track down wealthy tax cheats who owe taxes to the federal government.

“If the Default on America Act had been signed into law, working families and seniors across Wisconsin would have been faced with higher costs and reduced access to vital programs,” said Opportunity Wisconsin Program Director Meghan Roh. “Congressmen Bryan Steil and Derrick Van Orden’s vote would’ve forced our veterans to wait longer to access health care, made it more difficult for seniors to access Social Security, and jeopardized food assistance for thousands of Wisconsinites. As Congress begins to work on the next federal budget, it’s time for them to support policies that help working families and seniors succeed.”

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ICYMI: Rep. Bryan Steil votes to keep credit card fees high

Steil joins Republicans, including Subcommittee Chairman who argued “the vast majority of Americans” want high credit card fees, in voting to protect big banks over working families

Monday, April 22, 2024

KENOSHA, Wis. – In case you missed it, Congressman Bryan Steil and Republicans in the House voted last week to keep credit card fees high and block a rule that is estimated to save more than 45 million Americans an average of $220 each year.

Steil joined Republicans on the House Financial Services Committee in voting to approve H. J. Res. 122, which would repeal a rule capping credit card late fees at $8. During a hearing on the measure, resolution sponsor and Subcommittee Chair Andy Barr claimed that “the vast majority of Americans” support higher late fees on credit cards.

“Working families face enough obstacles, high credit card fees shouldn’t be one of them,” said Opportunity Wisconsin Program Director Meghan Roh. “By voting to keep credit card fees high, Congressman Steil chose to stand with big banks instead of supporting working Wisconsinites. It’s time for Congressman Steil to work with his colleagues to lower costs and work to eliminate junk fees that are taking too much of our hard-earned money.”

One recent report also shows that Steil has received more than $241,000 from the biggest credit card companies and industry trade groups who have opposed the rule capping credit card fees, in addition to thousands of dollars in contributions this year alone from some of the nation’s largest credit card issuers.

Bloomberg: CFPB Credit Card Late Fee Rule Repeal Approved by House Panel

Lawmakers advanced legislation to block the Consumer Financial Protection Bureau’s rule capping credit card late fees at $8, setting up a vote in the US House of Representatives.

The House Financial Services Committee voted 28-22 along party lines Wednesday to approve a measure (H. J. Res. 122) from Rep. Andy Barr (R-Ky.) that would repeal the CFPB’s rule under the Congressional Review Act and bar the agency from introducing a similar proposal.

[. . .]

The CFPB estimates that around 45 million Americans are charged credit card late fees each year, and that the rule will save them up to $220 per year. On the flip side, banks stand to lose about $11 billion of the $14 billion in credit card late fees they generate annually, according to Bloomberg Intelligence.

[. . .]

Rolling Stone: Republicans Are Determined to Keep Credit Card Late Fees High

[. . .]

Late Wednesday afternoon, the GOP-controlled House Financial Services Committee voted to advance a bill that would repeal a new Consumer Financial Protection Bureau (CFPB) rule that drastically reduces the caps on credit card late fees — from $30-$41 to $8. The legislation would also repeal the CFPB’s ban on automatic adjustment of late fees due to inflation. In the Democratic-controlled Senate, where the bill is expected to fail, a similar repeal measure was introduced by Banking, Housing, and Urban Affairs Committee Ranking Member Tim Scott (R-S.C.) — who has recently devoted most of his energy to fawning over Donald Trump — and co-sponsored by 12 other Republicans.

[. . .]

According to Republicans on the committee, however, lowering late fees will “harm consumers by shifting costs to responsible consumers who pay on time in the form of higher annual fees and higher interest rates,” while remov[ing] incentives for timely payments.”

An analysis published this week by the watchdog group Accountable.US found that Republicans on the committee have “received over $7.9 million from industry groups against this rule and the largest credit issuers.”

[. . .]

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TAX DAY: Reps. Steil and Van Orden want even more giveaways to the ultra-rich and big corporations

As Wisconsinites file taxes today, Republicans in Congress continue to support extensions of Trump-era handouts to those at the top and other tax policies that leave working families behind

Monday, April 15, 2024

MADISON, Wis. – As Wisconsinites file their tax returns today, many big corporations and the wealthiest Americans continue to benefit from loopholes and giveaways that let them avoid paying their fair share. If Congressmen Bryan Steil and Derrick Van Orden had their way, some of these handouts for those at the top would be made permanent.

“Wisconsinites work hard, pay by the rules, and pay their fair share. But too many big corporations and the ultra-rich get to play by a different set of rules that let them off the hook when it comes to paying their fair share of taxes, costing us billions and forcing working families to pick up the slack,” said Opportunity Wisconsin Program Director Meghan Roh. “If Congressmen Steil and Van Orden had their way, many of these disastrous tax policies would be made even worse. We need tax policies that are fair – that means supporting working families and small businesses while making those at the very top finally pay what they should.”

Congressman Bryan Steil is a co-sponsor of H.R. 976 – a permanent extension of major Trump-era tax cuts which have primarily benefited the wealthiest Americans. If this bill were passed, the richest 1% of Americans would see a $44 billion tax cut in 2026 alone. 

Both Steil and Van Orden are also co-sponsor of H.R. 4721, which also contains major tax giveaways to those at the top. Like Steil’s TCJA Permanency Act, this bill would make the pass-through business tax deduction permanent, a provision that owners of large, successful businesses, including oil and gas companies, have used to avoid paying their fair share of taxes.

Meanwhile, Steil and Van Orden have failed to take a position on President Biden’s proposal to lower taxes on working families, while holding billionaires and big corporations accountable. The President’s budget would raise minimum tax rates for billionaires and large, successful corporations, while expanding the Child Tax Credit and Earned Income Tax Credit to support working families. Biden’s plan also cracks down on corporate tax loopholes, removes subsidies for gas and oil companies, and strengthens Medicare and Social Security.

To mark Tax Day, Opportunity Wisconsin previously announced billboards in both the 1st and 3rd Congressional Districts highlighting Steil and Van Orden’s support for tax giveaways to the richest 1%. The billboards will continue to run through the end of this week.

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Report details potential savings for Wisconsinites under Medicare price negotiation

Tens of thousands of Wisconsin Medicare beneficiaries will save money on prescriptions thanks to the Inflation Reduction Act

Friday, April 12, 2024

MADISON, Wis. – Tens of thousands of Wisconsinites will be able to save money on prescription drugs thanks to the Inflation Reduction Act’s provision allowing Medicare to negotiate lower drug prices. 

The Center For American Progress outlines the potential savings in a new state-specific report which shows savings for the initial 10 prescription drugs selected for negotiation. The 68,000 Wisconsinites on Medicare who use the popular drug Eliquis, for example, could save $123 on a 30-day supply following negotiations. More costly specialty drugs would see even more significant savings, like the cancer treatment Imbruvica, which could be lowered by more than $6,500 per month thanks to price negotiations.

The Centers for Medicare and Medicaid Services will announce finalized prices for the selected drugs later this year and prices will take effect in 2026. In his recent budget, President Biden also proposed accelerating the pace of negotiations and including even more prescription drugs each year.

“The Inflation Reduction Act is already lowering costs for Wisconsinites and tens of thousands of Medicare recipients will soon see even more savings thanks to these price negotiations,” said Opportunity Wisconsin Program Director Meghan Roh. “Congress should protect the progress that the Biden administration has made to lower the cost of prescription drugs and work to expand this program to deliver relief to even more Americans.”

Read the full report here