Dimon then said he had a “great idea” to help quell disagreement over the proposed card cap, suggesting that the U.S. government impose the pricing controls on Americans in just two states.

Vermont and Massachusetts are the home states of Sens. Bernie Sanders and Elizabeth Warren, respectively, both of whom support a bill capping card rates at 10% for five years. Dimon didn’t mention the lawmakers by name Wednesday.

The U.S. government “should force all the banks to do it in two states, Vermont and Massachusetts, and see what happens,” Dimon said, drawing laughter from the audience.

Dimon said “the left” and people who argue for price controls “will learn a real lesson, and the people crying the most won’t be the credit card companies,” he said.

“It’ll be the restaurants, the retailers, the travel companies, the schools, the municipalities, because people miss their water payments,” he said. “It would be something else to watch.”

The offices of Sanders and Warren did not immediately return calls for comment.

Dimon added that JPMorgan was planning on giving the Trump administration its analysis on what would happen under a national credit card rate cap.

“I think it’s wrong for the government to get involved extensively in pricing of stuff, but I got to deal with the world I got,” Dimon said.