Centennial State News

The National Federation of Independent Business (NFIB) has expressed approval following the Colorado House's passage of HB 1282. This bipartisan bill aims to exclude sales tax and tips from credit card swipe fees, also known as interchange fees, which are charged by credit card networks.

NFIB State Director Michael Smith commented on the significance of this legislative move for small businesses in Colorado. He stated, “HB 1282 is one step closer to becoming law, a win for Colorado’s small businesses. Inflation is already adding a tremendous amount of pressure on Main Street businesses, and credit card processing fees only exacerbate the issue."

Smith further emphasized the organization's appreciation for the House's decision, saying, "NFIB is grateful that the House recognized that credit card companies should not be profiting from the collection of taxes by Colorado small businesses and workers’ hard-earned tips." He concluded with a call to action for further legislative support: "We urge the Senate to support small businesses and push this bill to the finish line.”