Albuquerque, NM (June 16, 2026) – In a joint op-ed for the Albuquerque Journal, NFIB State Director Jason Espinzoa and New Mexico Restaurant Association CEO Carol Wight describe how the bipartisan Credit Card Competition Act would provide needed relief to New Mexico’s small business owners and job creators, the backbone of the state’s economy and tourism industry.

In the op-ed, Espinoza and Wight write:

“A small business owner in Albuquerque told us they paid more than $16,000 in 2025 on credit card swipe fees. That’s money they’d rather use to expand their operations and meet their customers’ needs.

“Competition is the lifeblood of a growing economy. Increasing competition among processing networks won’t jeopardize tourism here in New Mexico. But the status quo, where Main Street continues to get ripped off by credit card companies and big banks, absolutely will.”

CLICK HERE to read the full op-ed. Excerpts are below:

Competition won’t jeopardize tourism in New Mexico, the status quo will

Albuquerque Journal

By: Jason Espinoza & Carol Wight

June 14, 2026

The coffee shop in Truth or Consequence, the restaurant in Farmington, the bookstore in Albuquerque — each of these businesses is getting squeezed by rising costs. But there’s one cost that consumers may not notice: credit card swipe fees. […]

Thankfully, a bipartisan bill has been introduced in Congress that would give Main Street New Mexicans much-needed relief. The Credit Card Competition Act, S.3623, would allow for more processing networks, encouraging competition between credit card companies and lowering these unruly swipe fees. […] A recent National Federation of Independent Businesses survey found that 92% of our small business owner members believe they should be able to pick the credit card networks that process their transactions.

Unfortunately, some of our state’s business organizations have sided against this critical reform based on misleading claims peddled by the very industry that gains the most from the lack of competition. The credit card industry and its big banking partners claim that competition will increase their costs, ultimately jeopardizing the points and rewards programs that consumers enjoy. […]

That’s nonsense. Giving small businesses the right to choose between multiple credit card processing networks has nothing to do with those points and reward programs. […]

There’s no question that tourism is critical to our state’s economy. […] But it’s our historic downtowns, like Mesilla or Raton, and the mom-and-pop shops that fill them that keep those visitors coming back year after year. Without the small businesses that provide the goods, services and experiences that can only be found here in our state, the tourism industry would crumble.

Here’s the hard truth: Every time a customer swipes their card, the small business pays anywhere from 2-4% in fees to process the transaction. […] In 2024, the swipe fees totaled a record $187.2 billion, and they were most merchants’ highest operating cost after labor.

A small business owner in Albuquerque told us they paid more than $16,000 in 2025 on credit card swipe fees. […]

Competition is the lifeblood of a growing economy. Increasing competition among processing networks won’t jeopardize tourism here in New Mexico. But the status quo, where Main Street continues to get ripped off by credit card companies and big banks, absolutely will.

Small businesses are counting on Congress to pass the bipartisan Credit Card Competition Act. […] This competition would force credit card networks to set their fees according to the market, not to an arbitrary number that pads their quarterly profits. And as this cost pressure eases for Main Street, those businesses, the communities they serve — and, yes, the tourist industry — will thrive.