Political Quotes

“Madam President, I rise today to express my strong opposition to the Tester-Corker amendment No. 392 to the Economic Development Revitalization Act. The interchange fee debate is not a new one for the Senate. This is an old discussion with both sides--financial institutions and retailers--bringing their perspectives to the table. I should note that I am a former small businessman and retailer. My wife and I owned and operated Enzi Shoes, a family retail shoestore in Wyoming and Montana, for over 25 years. Retail stores have been clamoring for a change for years and have always felt ignored by the credit card and the big bank card companies. Stores with small-priced items are forced to allow a sale to be put on a debit or credit card. While some stores post signs requiring a minimum purchase, they are violating their service contract. If the fees were merely a percentage of the sale rather than a minimum amount or a percentage, whichever is larger, much of the argument would be gone. Without the percentage fees, small businesses have no leverage for negotiation. Soon vending machines will allow you to kind of point your cell phone at the vending machine and click, and you will get your snack or your soda, and it will be billed to your debit card. But if the cost of making that purchase eats up the profits on the sale plus some money out of the vending machine owner's own pocket every time someone buys a soda or snack, will the machines be available? No.…”