Vermont S316
Vermont Prioritizes Main Street Over Wall Street With Proposed Swipe Fee Reform
Vermont lawmakers are introducing S.316 to prohibit card networks from charging swipe fees on taxes and gratuities when you paywith a credit card. With Visa and Mastercard controlling 90% of the credit card processing market, Vermont businesses are trapped paying inflated fees that drain money out of its the local economy and send it straight to Wall Street instead of supporting hardworking Main Street businesses.
By changing the way swipe fees are applied to local taxes and gratuities, this legislation will bring local businesses immediate relief through targeted reform.
By changing the way swipe fees are applied to local taxes and gratuities, this legislation will bring local businesses immediate relief through targeted reform.
Our elected officials in Montpelier need to hear from you. It's time to keep Main Street dollars out of Wall Street hands.
Use this form to send a letter of support to your legislator, today!
Use this form to send a letter of support to your legislator, today!
Wall Street Pockets the Profits.
Vermont Pays the Fees
What S.316 Covers
End Fees on Taxes and Gratuities: This bill is laser-focused on eliminating hidden fees on the portion of transactions attributed to tax and gratuity
Payment Card Networks: Required to stop raising other fees or adding surcharges to avoid indirect work arounds.
Penalties: Creates clear, private enforcement mechanisms and financial penalties (including $1,000 per violation) for noncompliance.