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sway an action in Congress There was a problem with their credit card bill. With the bill stalled, Sens. Dick Durbin (D-IL) and Roger Marshall (R-KS) are seeking reciprocal government aid for those who opposed the bill.
Sens. Durbin and Marshall’s credit card bill seeks to impose government mandates on credit card routing, changing the current system by introducing untested networks and threatening card benefits. . In response, Airlines for America (A4A) and several aviation unions voiced their opposition to the bogus bill. A4A too published research Outlined the significant damage the Durbin-Marshall bill would cause to the travel and tourism industry and the U.S. economy as a whole.
the study highlight How 30 million Americans rely on airline-affiliated cards to earn credit card rewards and loyalty points. These cards help Americans earn points and miles. Points and miles accumulate over time, and cardholders can receive benefits such as class upgrades, airport lounge access, excess baggage allowance, priority reservations, and even free flights.
Without these benefits, many Americans would not be able to afford to travel, and that loss would be devastating to the American economy.
A4A estimates that 15 million domestic traveler trips will be paid for with airline credit cards, increasing economic activity by up to $23 billion in 2022 alone.
The loss of these airline credit card benefits would cost the travel and tourism industry $23 billion and thousands of jobs. Cities and states that thrive on tourism will be hurt. The last thing our economy needs is a trillion-dollar industry suffering.
It’s clear how dangerous this credit card bill is, but Sens. Durbin and Marshall are trying to silence opponents and support the megastores that are funding the bill’s supporters. Now, Senators Durbin and Marshall are using that power to weaponize the federal government and target the airline industry and other adversaries who stand in their way.
After Consumer Financial Protection Bureau Chief Rohit Chopra met with Senator Durbin, the CFPB and Department of Transportation announced that a joint hearing on airline rewards and loyalty programs has been scheduled for May 9. Authorities say they want to gather information to decide whether to take further action. This is necessary to “ensure fair competition.” On the other hand, there are no checks on the unfair practices of these megastores. continue to raise pricesDespite the economic hardships faced by customers.
We cannot allow Durbin and Marshall to pass bad laws. No matter what threats they make, the cold truth remains that this bill will not help Americans or the small businesses on Main Street.
This legislation would harm ordinary Americans, the economy, local financial institutions, and millions of travel and tourism jobs in cities across the country. For Senators Durbin and Marshall to win, the American people cannot afford to lose.
