Multiple states push to limit card swipe fees
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AI-assisted source synthesis · not an independent investigation.
Lawmakers in Pennsylvania, Massachusetts, and New Jersey are pushing bills to limit card swipe fees. The proposals would prohibit banks from charging interchange fees on the sales tax portion of transactions; some proposals also address tips. The bills also include provisions prohibiting businesses from making up for the related revenue losses by increasing other rates. The report notes that the bills’ progress is linked to legal challenges facing Illinois’s IFPA, which could affect the legislative approaches chosen by other states. Lawmakers in all three states are still advancing the proposals; the report does not say whether the bills have passed or moved to the next stage.
AI-written from reports · updated 10 hours ago
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- Payments DivePennsylvania, Massachusetts, and New Jersey continue to advance bills to exempt sales tax from interchange fees
Lawmakers in Pennsylvania, Massachusetts, and New Jersey are advancing bills that would prohibit interchange fees from being charged on sales tax in transactions; some proposals also cover tips. The bills also include provisions such as prohibiting the recovery of related lost revenue through higher rates. Their progress is linked to the legal challenge to Illinois’ IFPA and could affect the legislative path in other states.
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