Rep. Hensarling Will End THIS Hidden Consumer Tax

As early as next week, the House Financial Services Committee could vote on the Financial CHOICE Act, an important piece of legislation that will repeal and replace the job-killing Dodd-Frank Act. Written by free market champion Rep. Jeb Hensarling (R-TX), the bill is a major step forward toward reducing unnecessary and costly red-tape while reducing the risk of  future TARP-style bailouts.

In addition to freeing up consumers and investors from the shackles of government micromanagement, the bill includes a provision to repeal the odious “Durbin Amendment,” another failed government experiment with the age-old quest to set price controls on goods and services.

When consumers use credit and debit cards, merchants like Walgreens and others have to pay a small “interchange fee,” which is essentially a small insurance policy that protects credit card companies in case consumers decide not to pay their bills.  When retailers complained that the cost per swipe…



Leave a Reply

Recent Posts