On behalf of Louisiana small business owners, I would like to thank senators Mary Landrieu and David Vitter for standing up for small businesses in light of efforts to delay or repeal important debit card swipe fee reforms that were passed last year.
As part of the Dodd-Frank Act, Congress passed provisions that would ensure debit card swipe fees are "reasonable and proportional" to the true cost of the transaction processing. As a new business owner, I can see the value of this legislation. But before it has even taken effect, it is under attack, and legislation is on the table that could delay or even repeal reforms.
Now is the time to embrace policies that lead to increased jobs and investment. This policy does just that while providing important protections for Louisiana small businesses. Big thanks to Sen. Landrieu and Sen. Vitter for continuing to show tremendous courage by opposing efforts to delay or repeal swipe fee reform.