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When it comes to cutting through partisan noise to view policies on their merits, Sen. Angus King is at the top of my list. That should make King’s recent move to cosponsor the Credit Card Competition Act (CCCA) no surprise. I believe his support reinforces the merits of a bill that will benefit the lives of Maine’s business owners and their customers.
Maine’s economy thrives on its independent shops, seasonal restaurants, and family-run businesses. But those same businesses, like mine, have been locked in an operational chokehold for years because of credit card swipe fees. Swipe fees rank among the most costly expenses for small businesses, who have little to no agency to negotiate with giants like Visa and Mastercard for lower swipe fee rates. The result is Maine’s businesses having their income siphoned away.
By supporting this bipartisan effort, King is pushing for a market where I believe Maine’s small businesses have a fighting chance. The CCCA opens the door to lower swipe fees for retailers and, ultimately, lower prices for consumers.
I believe Mainers have come to expect King to look past party lines and focus on how to help working citizens. His support for this bill is a shining example of that expectation in action. Thank you, Sen. King, for cosponsoring the Credit Card Competition Act.
Dan Tremble
Bangor