Bloomberg Talks – Congresswoman Nicole Malliotakis Talks Affordability

Date: January 15, 2026
Host: Bloomberg
Guest: Congresswoman Nicole Malliotakis (Republican, New York)

Episode Overview

This episode features Congresswoman Nicole Malliotakis discussing pressing issues around affordability in America. The conversation covers credit card interest rate caps, pharmaceutical pricing and health care reform, the importance of financial literacy, and current dynamics around immigration enforcement and reform. Malliotakis shares her perspectives on Republican policy positions, recent legislative proposals, and the real-world impact of these issues on her New York district.

Key Discussion Points & Insights

1. Credit Card Interest Rate Caps

• Republican Skepticism of Price Controls ([00:14]–[00:48])
  • Malliotakis notes that most Republicans, herself included, are "concerned with any type of price controls," suggesting skepticism towards capping interest rates.
  • She highlights the current “ridiculous” state of credit card rates, quipping, “I can go to the loan shark down the block in my district and basically get a better deal.” – Nicole Malliotakis [00:38]
  • Points to credit unions, which are capped at 18%, as a possible model for more reasonable limits.
  • Anticipates major debate in Congress, particularly among the more moderate Main Street Caucus.

2. Health Care Affordability and PBM Reform

• President’s Health Care Plan & Drug Pricing ([01:30]–[03:35])
  • Malliotakis acknowledges the administration’s efforts, noting aspects like the "most favored nation" pricing strategy for pharmaceuticals: "Why are we subsidizing the research and on top of it paying the highest prices? So he has a point with that." – Nicole Malliotakis [02:19]
• Problem with Pharmacy Benefit Managers (PBMs)
  • Identifies PBM reform as critical, criticizing their lack of transparency, vertical integration, and negative impact on small pharmacies.
  • Announces an upcoming Ways and Means Committee hearing with health insurance executives who own PBMs, focusing on profit increases and premium hikes.
• Reconciliation as a Legislative Path
  • Suggests the potential use of the reconciliation process to pass aspects of health care and housing affordability reforms.

3. Financial Literacy Initiatives

• Emphasis on Education ([03:40]–[04:14])
  • Advocates for foundational financial education, particularly for young people taking on debt:

    “Financial literacy is so important. Right. Teaching young people about what it means to take on debt... we need to get back to the basics in our education system.” – Nicole Malliotakis [03:50–04:13]

4. Immigration Enforcement and Reform

• Mixed Results on Immigration Policy ([04:14]–[07:17])
  • Praises the administration for securing the border ("We now have zero crossings") and successful deportation of criminals.
  • Criticizes both excessive ICE raids and local governments not cooperating in turning over criminals for deportation, citing a recent article: “7,000 individuals, including murderers and rapists, were released back onto the street instead of turned over to ICE.” – Nicole Malliotakis [05:40]
  • Calls for balance and standards ensuring cooperative federal-local enforcement.
• Need for Comprehensive Immigration Reform
  • Points out inefficiencies in renewing legal status and work authorizations that hurt law-abiding, tax-paying immigrants:

    “People who are here doing the right thing, follow the rules, they're working hard, they're paying taxes... they lose their legal status, and then they lose their job." – Nicole Malliotakis [06:43]

  • Stresses the importance of smoother processes for legal immigrants and work visas.

5. DHS Budget and ICE Raids

• Potential Funding Stalemate ([07:17]–[08:05])
  • Warns that Democratic opposition to current enforcement tactics could threaten wider DHS funding, potentially impacting Coast Guard, counterterrorism, and cybersecurity capabilities:

  “They're the ones that are going to get impacted. Counterterrorism, cybersecurity, our coastline, those are the areas we're going to see some impact if they don't work with us to get the job done and fund the government.” – Nicole Malliotakis [07:52]

Notable Quotes & Memorable Moments

• “29% is a little bit ridiculous. Right. I mean, you know, I can go to loan shark down the block in my district and basically get a better deal.” — Nicole Malliotakis [00:36]
• “Why are we subsidizing the research and on top of it paying the highest prices? So he has a point with that.” — Nicole Malliotakis [02:19]
• “Financial literacy is so important. Right. Teaching young people about what it means to take on debt.” — Nicole Malliotakis [03:54]
• “We now have zero crossings, and number two, deport the criminals. Right. And I think that in many ways they've been very successful.” — Nicole Malliotakis [04:57]
• “People who are here doing the right thing, follow the rules, they're working hard, they're paying taxes, and you know what? They lose their legal status, and then they lose their job.” — Nicole Malliotakis [06:43]
• “Counterterrorism, cybersecurity, our coastline, those are the areas we're going to see some impact if they don't work with us to get the job done and fund the government.” — Nicole Malliotakis [07:52]

Timestamps for Key Segments

• Credit Card Rate Caps & GOP View: [00:14]–[01:30]
• Health Care Affordability, Pharma, PBMs: [01:30]–[03:35]
• Financial Literacy & Education: [03:40]–[04:14]
• Immigration Enforcement & Reform: [04:14]–[07:17]
• DHS Budget & ICE Raids Politics: [07:17]–[08:05]

Tone:
Conversational but focused, Malliotakis offers candid critiques and bipartisan openness, especially regarding affordability concerns and practical immigration solutions.