The National Federation of Independent Business, Colorado’s small business advocacy organization, responded on June 3 to Governor Polis’ veto of House Bill (HB) regarding credit card swipe fee relief.
Michael Smith, NFIB State Director, said, “Costly credit card swipe fees pose a serious challenge for small businesses here in Colorado. For many small business owners, swipe fees have become one of the most expensive line items in their day-to-day operations, second only to labor. While Main Street is penalized for collecting taxes on the government’s behalf, credit card companies are profiting off our state’s tax code. That’s not right. It’s disappointing that Governor Polis has vetoed this commonsense reform. NFIB will continue working with lawmakers in Denver to deliver real swipe fee relief for Main Street Coloradans.”
The National Federation of Independent Business aims to advocate for small and independent businesses by providing legislative support and resources and engages in advocacy to promote policies that foster economic growth for small businesses in Colorado. The organization provides dedicated support across all 50 states and offers tools, research, and compliance guidance to support small businesses, according to its official website.
The recent veto means that proposed reforms intended to reduce the burden of credit card processing fees on local businesses will not take effect at this time.
Smith said the organization would continue its efforts alongside lawmakers to address concerns about swipe fees impacting Main Street businesses.
