A bill that aims to lower credit card “swipe fees” is moving through the Pennsylvania House, but faces an uphill battle in the state Senate, and has drawn opposition from banks and credit unions. Financial institutions say the current system works well and that changing it would create “chaos,” while merchants argue these fees are a burden on both them and their customers. The bill, in the state House would keep the fees from being applied to the state sales tax. The legislation was introduced, and approved by a House committee last week. According to supporters of the bill, swipe fees are among sellers’ largest operating expenses. To cover them, businesses often raise prices and charge their own swipe fees to consumers. Pennsylvania isn’t the only state considering this kind of measure. Similar legislation has been introduced across the country, including at the federal level.
