Conan O'Brien accepts Mark Twain Prize for humor as politics roils the Kennedy Center

WASHINGTON (AP) — On a night when half a dozen people made jokes about this being the last-ever Mark Twain Prize, Conan O'Brien made sure the ceremony at the John F. Kennedy Center for the Performing Arts ended on a high note.

O’Brien accepted the award for lifetime achievement in comedy Sunday night while acknowledging the backstage turmoil that hangs over the future of the cultural center in Washington.

O’Brien, 61, was named the 26th recipient of the Mark Twain Prize in mid-January, about three weeks before President Donald Trump upended the Kennedy Center by ousting longtime president Deborah Rutter and board chairman David Rubenstein. Trump dismissed the board of trustees and replaced them with loyalists, who then elected him as chairman.

On Sunday, O'Brien specifically thanked Rubenstein and Rutter — drawing an extended round of applause — and also Kennedy Center staffers who, he said, were “worried about what the future might bring.”

He said the example of Mark Twain's own life and career was particularly resonant at this moment in American history.

“Twain hated bullies. ... He punched up, not down, and he deeply empathized with the weak,” O'Brien said. “Twain loved America, but he knew it was deeply flawed.”

A Mark Twain impersonator then emerged from the audience. After a back-and-forth debate with O'Brien, he joined him on stage and the pair slow danced for a while. They were then joined by a dozen more Twain impersonators and previous Twain Prize recipient Adam Sandler for a raucous rendition of Neil Young’s “Rockin in the Free World.”

That musical ending capped off a night when the uncertain fate of the Kennedy Center itself was woven through the multiple tributes and testimonials to O’Brien.

“I think it would be insane not to address the elephant in the room,” comic Nikki Glaser said on the red carpet before the ceremony. “It’s in the air tonight. This night is about Conan, but it can be both.”

Once the festivities began, Stephen Colbert joked that the Kennedy Center had announced two new board members: Bashar Assad, the ousted president of Syria, and Skeletor, a fictional supervillain.

John Mulaney quipped that the entire building would soon be renamed “the Roy Cohn Pavilion” after one of Trump’s mentors. And Sarah Silverman made multiple Trump jokes that were too vulgar to print.

Trump, in announcing the Kennedy Center changes, posted on social media that those who were dismissed "do not share our Vision for a Golden Age in Arts and Culture.”

How that vision takes shape remains to be seen, but Trump has spoken about wanting to book more Broadway shows there and floated the idea of granting Kennedy Center Honors status to actor Sylvester Stallone and singer-songwriter Paul Anka.

Into this maelstrom stepped O'Brien, whose comedic persona has never been particularly political. The comic has always tended more toward goofiness and self-deprecation. But he has also leaned into sensitive societal issues at times. In 2011, O'Brien officiated a gay wedding live on his show, overseeing the marriage of his longtime costume designer Scott Cronick and his partner David Gorshein.

O’Brien vaulted into the spotlight from near-total obscurity in 1993 when he was chosen to replace David Letterman as host of “Late Night” despite no significant on-camera experience. The former Harvard Lampoon editor had spent the previous years as a writer for “Saturday Night Live” and “The Simpsons,” appearing on camera only as an occasional background extra in “SNL” skits.

He went on to host “Late Night” for 16 years, longer than any other host. O'Brien was later tapped to replace Jay Leno as host of “The Tonight Show,” but that experiment ended in public failure. After seven months of declining ratings, NBC executives brought Leno back for a new show that would bump “The Tonight Show” back. O’Brien refused to accept the move, leading to a public spat that ended with a multimillion-dollar payout for O’Brien and his staff to exit the network in early 2010.

O'Brien went on to host another talk show on the cable station TBS, while launching successful podcasts and travel shows. He is currently on a late-career elder statesman hot streak. His travel series, “Conan O’Brien Must Go,” drew popular and critical acclaim, with a second season coming. His recent gig hosting the Academy Awards was so well received that the producers announced they are bringing him back next year.

In the wake of Trump's takeover of the Kennedy Center, several artists, including the producers of “Hamilton” and actress and writer Issa Rae, announced they were canceling appearances at the venue.

Others have chosen to perform while making their sentiments known from the stage. Leftist comic W. Kamau Bell directly addressed the controversy in his performance just days after the shake-up. Earlier this month, cellist Erin Murphy Snedecor ended her set with a performance of the Woody Guthrie protest anthem “All You Fascists Bound to Lose.”

Other comedians receiving the lifetime achievement award include both Letterman and Leno, along with George Carlin, Whoopi Goldberg, Bob Newhart, Carol Burnett, Bill Murray and Dave Chappelle.

The ceremony will be streamed on Netflix on May 4.

Comedian Conan O'Brien walks out on stage at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP Photo/Kevin Wolf)

Comedian Conan O'Brien walks out on stage at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP Photo/Kevin Wolf)

Triumph the Insult Comic Dog speaks at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP Photo/Kevin Wolf)

Netflix co-CEO Ted Sarandos, left, shakes hands with Reggie Watts as they arrive at the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP Photo/Kevin Wolf)

Nikki Glaser, left, and her mom, Julie Glaser, center, look as her dad, Edward Glaser, right, stands on Nikki's dress as they arrive at the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP Photo/Kevin Wolf)

Comedian Conan O'Brien, fourth from right, is applauded as he takes his seat at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP Photo/Kevin Wolf)

Comedian Conan O'Brien, center, and his wife, Liza Powel O'Brien, looks out on the crowd at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP Photo/Kevin Wolf)

Brian McCann, dressed as the FedEx Pope, looks to Conan O'Brien at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP Photo/Kevin Wolf)

Comedian Conan O'Brien walks out on stage at the start of the 25th Annual Mark Twain Prize for American Humor Celebrating Conan O'Brien, Sunday, March 23, 2025, at the Kennedy Center for the Performing Arts in Washington. (AP Photo/Kevin Wolf)

President Donald Trump attends a board meeting at the John F. Kennedy Center for the Performing Arts in Washington, Monday, March 17, 2025. (Pool via AP)

President Donald Trump tours the John F. Kennedy Center for the Performing Arts in Washington, Monday, March 17, 2025. (Pool via AP)

FILE - Conan O'Brien takes part in a panel discussion during the South by Southwest Conference and Festival, March 11, 2025, in Austin, Texas. (Photo by Jack Plunkett/Invision/AP, File)

NEW YORK (AP) — Reviving a campaign pledge, President Donald Trump wants a one-year, 10% cap on credit card interest rates, a move that could save Americans tens of billions of dollars but drew immediate opposition from an industry that has been in his corner.

Trump was not clear in his social media post Friday night whether a cap might take effect through executive action or legislation, though one Republican senator said he had spoken with the president and would work on a bill with his “full support.” Trump said he hoped it would be in place Jan. 20, one year after he took office.

Strong opposition is certain from Wall Street in addition to the credit card companies, which donated heavily to his 2024 campaign and have supported Trump's second-term agenda. Banks are making the argument that such a plan would most hurt poor people, at a time of economic concern, by curtailing or eliminating credit lines, driving them to high-cost alternatives like payday loans or pawnshops.

“We will no longer let the American Public be ripped off by Credit Card Companies that are charging Interest Rates of 20 to 30%,” Trump wrote on his Truth Social platform.

Researchers who studied Trump’s campaign pledge after it was first announced found that Americans would save roughly $100 billion in interest a year if credit card rates were capped at 10%. The same researchers found that while the credit card industry would take a major hit, it would still be profitable, although credit card rewards and other perks might be scaled back.

About 195 million people in the United States had credit cards in 2024 and were assessed $160 billion in interest charges, the Consumer Financial Protection Bureau says. Americans are now carrying more credit card debt than ever, to the tune of about $1.23 trillion, according to figures from the New York Federal Reserve for the third quarter last year.

Further, Americans are paying, on average, between 19.65% and 21.5% in interest on credit cards according to the Federal Reserve and other industry tracking sources. That has come down in the past year as the central bank lowered benchmark rates, but is near the highs since federal regulators started tracking credit card rates in the mid-1990s. That’s significantly higher than a decade ago, when the average credit card interest rate was roughly 12%.

The Republican administration has proved particularly friendly until now to the credit card industry.

Capital One got little resistance from the White House when it finalized its purchase and merger with Discover Financial in early 2025, a deal that created the nation’s largest credit card company. The Consumer Financial Protection Bureau, which is largely tasked with going after credit card companies for alleged wrongdoing, has been largely nonfunctional since Trump took office.

In a joint statement, the banking industry was opposed to Trump's proposal.

“If enacted, this cap would only drive consumers toward less regulated, more costly alternatives," the American Bankers Association and allied groups said.

Bank lobbyists have long argued that lowering interest rates on their credit card products would require the banks to lend less to high-risk borrowers. When Congress enacted a cap on the fee that stores pay large banks when customers use a debit card, banks responded by removing all rewards and perks from those cards. Debit card rewards only recently have trickled back into consumers' hands. For example, United Airlines now has a debit card that gives miles with purchases.

The U.S. already places interest rate caps on some financial products and for some demographics. The Military Lending Act makes it illegal to charge active-duty service members more than 36% for any financial product. The national regulator for credit unions has capped interest rates on credit union credit cards at 18%.

Credit card companies earn three streams of revenue from their products: fees charged to merchants, fees charged to customers and the interest charged on balances. The argument from some researchers and left-leaning policymakers is that the banks earn enough revenue from merchants to keep them profitable if interest rates were capped.

"A 10% credit card interest cap would save Americans $100 billion a year without causing massive account closures, as banks claim. That’s because the few large banks that dominate the credit card market are making absolutely massive profits on customers at all income levels," said Brian Shearer, director of competition and regulatory policy at the Vanderbilt Policy Accelerator, who wrote the research on the industry's impact of Trump's proposal last year.

There are some historic examples that interest rate caps do cut off the less creditworthy to financial products because banks are not able to price risk correctly. Arkansas has a strictly enforced interest rate cap of 17% and evidence points to the poor and less creditworthy being cut out of consumer credit markets in the state. Shearer's research showed that an interest rate cap of 10% would likely result in banks lending less to those with credit scores below 600.

The White House did not respond to questions about how the president seeks to cap the rate or whether he has spoken with credit card companies about the idea.

Sen. Roger Marshall, R-Kan., who said he talked with Trump on Friday night, said the effort is meant to “lower costs for American families and to reign in greedy credit card companies who have been ripping off hardworking Americans for too long."

Legislation in both the House and the Senate would do what Trump is seeking.

Sens. Bernie Sanders, I-Vt., and Josh Hawley, R-Mo., released a plan in February that would immediately cap interest rates at 10% for five years, hoping to use Trump’s campaign promise to build momentum for their measure.

Hours before Trump's post, Sanders said that the president, rather than working to cap interest rates, had taken steps to deregulate big banks that allowed them to charge much higher credit card fees.

Reps. Alexandria Ocasio-Cortez, D-N.Y., and Anna Paulina Luna, R-Fla., have proposed similar legislation. Ocasio-Cortez is a frequent political target of Trump, while Luna is a close ally of the president.

Seung Min Kim reported from West Palm Beach, Fla.

President Donald Trump arrives on Air Force One at Palm Beach International Airport, Friday, Jan. 9, 2025, in West Palm Beach, Fla. (AP Photo/Julia Demaree Nikhinson)

FILE - Visa and Mastercard credit cards are shown in Buffalo Grove, Ill., Feb. 8, 2024. (AP Photo/Nam Y. Huh, File)