Political Quotes

“Mr. President, on a different subject matter completely, I want to explain a bill that I have introduced that is so controversial that when you go to the airport here in Washington, DC, they have billboards flashing about how dangerous this bill is. Let me tell you about the bill. Most Americans pay for their purchases with credit and debit cards. I know I do. However, most Americans don't know that, when they go to the register to pay or to enter their card information online, there are fees that are being charged when they use their credit cards that are known as swipe fees, or interchange fees. Each time a credit card is used to make a donation to the Red Cross, to purchase groceries, fuel, Christmas gifts, or something else, Visa and MasterCard charge a fee you never see. Some of that fee they keep for themselves; most is given to the bank that issues the credit card. Today, Visa and MasterCard control around 80 percent of the credit card market in the United States of America--two companies, a duopoly-- wielding enormous power over the American economy. Visa and MasterCard set these interchange fees, or swipe fees, on behalf of thousands of banks, leaving merchants, retailers--many of them just small businesses and restaurants--without a choice but to accept the outrageous fees. There is no negotiation on this fee. There is no competition. Small business owners and consumers face a ``take it or leave it'' choice. In 2022 alone, U.S.…”