On the recordSeptember 13, 2023
I am proud to stand in the gap. I am proud to stand in this foxhole with my friends and my colleagues and with the Democratic whip from Illinois, Senator Durbin, and my friend Senator Welch from Vermont. The Democratic whip is right. The Senate has to choose. Who are we going to listen to? Are we going to listen to Wall Street, or are we going to listen to the folks back home? Across Kansas, everyone is feeling the impacts of inflation. Family budgets are being stretched to the absolute limit, with little room for error. So you can imagine the shock in Kansans' eyes when I tell them, this year, they will spend over $1,000 in hidden credit card swipe fees--which is really a tax. These swipe fees are really just another additional tax--in this case, a 2- to 4-percent tax paid to Wall Street--on top of every purchase you make. These fees are baked into nearly every purchase you make, whether it is your morning coffee--that Starbucks cup of coffee that you are paying $7, $8 for, you are going to send 2 percent more, 3 percent, 4 percent more to Wall Street. When you stop and fill up your gas tank-- again, $50, $100 of gas--you are going to spend 2 or 3 percent, sending that to Wall Street. On school supplies, shopping, groceries, every time you swipe your card--every time--the Visa and Mastercard duopoly and Wall Street megabanks line their pockets. Madam President, I rise today with a clear message to Wall Street: Enough is enough.…
