The National Federation of Independent Business (NFIB), Colorado’s leading small business advocacy organization, released the following statement after the State Senate Business, Labor and Technology Committee passed SB 134, the swipe fees bill, 3-2. The bill will now go to the Committee of the Whole.

“For a business, especially in today’s economy, with higher than ever operating and overhead costs without an end in sight, every dollar counts,” said NFIB Colorado State Director Michael Smith. “The fees paid to banks could be the difference between keeping the doors open or closing. The elimination of the portion of the swipe fees paid on sales tax would help reduce an expense that has become burdensome. Small businesses shouldn’t be unpaid tax collectors for the state.”

If SB 134 passes, retailers and restaurants can save $217 million and cash can stay in Colorado’s communities.