Colorado Bill Targets Swipe Fees on Sales Tax

Colorado's governor is considering a new bill, SB26-134, that would prohibit payment card networks from charging swipe fees on the sales tax portion of credit and debit card transactions. This legislation, which passed the Colorado House with a significant majority, aims to reduce costs for businesses by eliminating these fees specifically on the tax component of sales. If enacted, the law could set a precedent for other states looking to regulate interchange fees and potentially impact revenue streams for card processing companies.