Bloomberg Talks Congresswoman Nicole Malliotakis Talks Affordability
Jan 15, 2026
Nicole Malliotakis, a U.S. Representative from New York, discusses key topics with Joe Mathieu. She critiques President Trump’s plan to cap credit card interest rates, suggesting a reference point of 18%. The conversation shifts to the complexities of affordability in healthcare and housing, emphasizing the need for transparency in pharmaceuticals. Malliotakis champions financial literacy, highlighting the importance of educating youth about debt. She also addresses immigration issues, advocating for better processes to support legal workers and employers.
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Cap Credit Card Rates Near 18%
- Consider capping credit card interest closer to 18% to curb excessive rates and align with credit union limits.
- Nicole Malliotakis warns 29% rates are "a little bit ridiculous" and expects strong Capitol Hill debate.
Middlemen Drive Prescription Costs
- Drug-pricing reforms should target PBMs and vertical integration that squeeze small pharmacies and lack transparency.
- Malliotakis highlights a 230% PBM profit rise alongside higher premiums despite taxpayer subsidies.
Teach Financial Literacy Early
- Improve financial literacy in schools to teach young people about debt and true costs of borrowing.
- Malliotakis says returning to basics in education will help prevent reckless credit use.