Colorado Small Businesses Applaud Introduction of Bill to Eliminate Credit Card Swipe Fees on Taxes and Tips

Editor’s Note: Press Releases are provided to Yellow Scene. In an effort to keep our community informed, we publish some press releases in whole.

“We commend lawmakers for introducing HB 1282, a bipartisan bill to protect small businesses and their employees from these costly fees on sales taxes and tips.”

DENVER (Feb. 21, 2025) – The National Federation of Independent Business (NFIB) announced its strong support for HB 1282, a bipartisan bill to exclude sales tax and tips from costly swipe fees (also known as interchange fees) charged by credit card networks. In a statement, NFIB State Director Michael Smith outlined how the bill would relieve small businesses, their employees, and consumers from overpaying interchange fees.

“Inflation is pushing small business owners and their thin margins to the brink. Unfortunately, credit card processing fees – which can cost between 1.5% and 3.5% of each transaction – exacerbate the financial strain of Main Street, making it harder for employers to expand their operations, raise wages, and keep their costs competitive. Credit card companies should not be profiting off merchants who collect Colorado’s taxes or workers’ hard-earned tips. We commend lawmakers for introducing HB 1282, a bipartisan bill to protect small businesses and their employees from these costly fees on sales taxes and tips.”

About NFIB:

For 80 years, NFIB has been the voice of small business, advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit www.NFIB.com.

###