Small businesses, banks: Texas GOP following 'failed' Illinois swipe fee policy

Small businesses, banks: Texas GOP following 'failed' Illinois swipe fee policy

(The Center Square) – A proposal by Texas Republicans mirrors a controversial one proposed by Illinois Democrats that critics argue that would force credit card users to pay sales taxes and tips in cash. If enacted, it would kill small…

Card-Fee Bills Would Benefit Big-Box Retailers but Harm Small Merchants

Texas’ House and Senate are considering legislation to regulate payment-card transactions, with bills that proponents claim would save millions of dollars for merchants and consumers. The evidence, however, suggests that the benefits would accrue mostly to big-box stores, while smaller merchants and consumers will both suffer. H.B. 4061 and S.B. 2056 would prohibit card-issuing banks from retaining interchange fees on the sales tax and tips port…