Senator Tester Bill to Delay #SwipeFees Reform Will Destroy Job Creation, Banks Will Profit


Tester’s bill to delay swipe fee reforms is a huge hit to small business job creation at a time we can least afford it. Retail lost 8,500 jobs in May alone, and this bill will only make it worse. Every additional dollar swiped from Main Street is a dollar that can’t be spent to create jobs.

Senator Tester’s bill to delay swipe fee reforms is a huge hit to small business job creation at a time we can least afford it. Retail lost 8,500 jobs in May alone, and this bill will only make it worse. Every additional dollar swiped fromMain Streetis a dollar that can’t be spent to create jobs.

Senator Tester’s 15 month delay proposal would kill more than 100,000 jobs that would otherwise be created under the Federal Reserve’s new swipe fee rules. Whereas swipe fee reform will create thousands of jobs, delaying and derailing the final rule will costMain Street$1 billion per month and thousands of much-needed small business jobs.  Since 2008, 1 million small businesses have failed costing 3,600,000 jobs. Supporting a bill that increases this number is counterintuitive and bad public policy.  Please urge your Senator to support American small businesses, consumers and end these antiquated credit card interchange fees that enrich the banks with $64 billion in unjustified fees EVERY YEAR

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