[Congressional Record (Bound Edition), Volume 155 (2009), Part 18]
[House]
[Page 23755]
[From the U.S. Government Publishing Office, www.gpo.gov]




                         SWIPE FEE LEGISLATION

  (Mr. WELCH asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. WELCH. Mr. Speaker, tomorrow the Financial Services Committee 
will hear testimony from Kathy Miller from the northern Vermont town of 
Elmore. Kathy and her husband run the Elmore Store; that is the general 
store, the post office, and the social hub of the small town of Elmore.
  Kathy will be testifying in favor of interchange, or swipe fee, 
legislation which would finally prevent credit card companies from 
overcharging small businesses like the Millers and others around the 
country. With every purchase paid for by credit card, they are charged, 
the Millers, over 2 percent. And as they have with individuals, the 
credit card companies have come up with ever more reasons and gimmicks 
to squeeze money out of the bottom line of these small businesses.
  Though the store itself in Elmore is a powerful force in the lives of 
the citizens, the Millers are absolutely powerless against the credit 
card companies and big banks. That's why Kathy Miller is coming to 
Washington to support legislation to end these abuses and to add 
fairness and transparency to swipe fees.

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