Cap the Rate

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By Nicole Grigg

Story Published: Sep 2, 2010 at 6:25 PM MST

Story Updated: Sep 2, 2010 at 8:03 PM MST

BILLINGS - The November elections are two months away and campaigns are already gearing up.

One initiative on the November ballot is I-164. It aims to cap annual interest fees that lenders charge on loans at 36%. Supporters rallied Thursday to get their message out to Yellowstone County Voters. Their cry Thursday was, "Cap the rate, 400% is too high."

"The people who are victimized in these interest rates are the poorest of the poor, the most vulnerable. They're going for basics like food and things for their kids," said House District 54, Margee McDonald.

Two other initiatives will be on the ballot in November: I-161, which would change how hunter access programs are funded, and I-105, a constitutional amendment that would prohibit new taxes on the sale or transfer of property.

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