DENVER (Feb. 21, 2025) – The National Federation of Independent Business (NFIB) announced its strong support for HB 1282, a bipartisan bill to exclude sales tax and tips from costly swipe fees (also known as interchange fees) charged by credit card networks. In a statement, NFIB State Director Michael Smith outlined how the bill would relieve small businesses, their employees, and consumers from overpaying interchange fees.

“Inflation is pushing small business owners and their thin margins to the brink. Unfortunately, credit card processing fees – which can cost between 1.5% and 3.5% of each transaction – exacerbate the financial strain of Main Street, making it harder for employers to expand their operations, raise wages, and keep their costs competitive. Credit card companies should not be profiting off merchants who collect Colorado’s taxes or workers’ hard-earned tips. We commend lawmakers for introducing HB 1282, a bipartisan bill to protect small businesses and their employees from these costly fees on sales taxes and tips.”