We at CFIF have consistently highlighted the peril of federal, state and local government efforts targeting…
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New Study Shows How Overregulating Short-Term Lenders Harms Consumers

We at CFIF have consistently highlighted the peril of federal, state and local government efforts targeting the short-term consumer lending sector.

Less than two years ago, we specifically sounded the alarm on a New Mexico law artificially restricting interest rates on short-term consumer loans.

Well, a new study entitled "A New Mexico Consumer Survey:  Understanding the Impact of the 2023 Rate Cap on Consumers" that surveyed actual borrowers confirms our earlier warnings:

Key findings include:

•Short-term,small-dollar loans help borrowers manage their financial situations, irrespective of the borrower’s income.

•The rate cap has failed to improve the financial wellbeing of New Mexicans, specifically those who had previously relied on short-term, small-dollar loans.

•…[more]

November 27, 2023 • 03:57 PM

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CFIF to Congress: Stop California's Ban on Vehicles with Internal Combustion Engines Print
By CFIF Staff
Monday, September 11 2023

September 11, 2023

The Honorable Kevin McCarthy  
Majority Leader
H-232, The Capitol  
Washington, D.C.  20515  

Re:  In Support of H.R. 1435, the Preserving Choice for Vehicle Purchases Act

Dear Leader McCarthy and Representatives:  

On behalf the Center for Individual Freedom (CFIF) and over 300,000 supporters and activists across the nation, I write to express our strongest support for H.R. 1435, the Preserving Choice for Vehicle Purchases Act, introduced by Congressman John Joyce, M.D., which was passed by the Energy and Commerce Committee and will next be considered by the entire House of Representatives.  

The state of California, due to its sheer population, often plays an outsize and unjust role in exporting its defective public policy choices to the nation as a whole.  In this instance, California has enacted electric vehicle (EV) mandates that require EVs to make up 100% of automaker sales by the year 2035.  Obviously, California political leaders intend to make their extremist mandate a de facto nationwide policy.  

Fortunately, Congressman Joyce’s proposed legislation would repel that growing threat by amending federal law to prevent efforts to eliminate the sale of automobiles powered by internal combustion engines, and by restricting the U.S. Environmental Protection Agency (EPA) from imposing regulations banning the sale or use of new automobiles powered by internal combustion engines.  

Whatever one’s opinion of EVs as a voluntary consumer option, the growing web of federal and state subsidies and mandates captures the American public’s deepest discontents with government overreach:  crony capitalism, wasteful spending, handouts to wealthier Americans, inefficient incentives and arrogant bureaucrats picking winners and losers in what should be a free and open marketplace.  

As Congressman Joyce summarized, “One state should not be able to set national policy and Americans should not be forced into making purchases they are unable to afford.”  He captures the logic of H.R. 1435 perfectly, which is why we strongly urge you to support this legislation.  Thank you very much for your ongoing focus on these important matters, and please contact me at your convenience with any questions or comments.  

Sincerely,  

Timothy Lee  
Senior Vice President of Legal and Public Affairs
 
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