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Each year, tens of millions of Americans fly to visit family or take short vacations. And frequent flyer points can help finance many of these trips.
But these valuable programs may become a thing of the past.
Sens. Dick Durbin and Roger Marshall have spent months trying to advance their cause. credit card bill in parliament. If passed, Durbin and Marshall’s bill would dramatically change how credit cards and rewards programs work, in the same way that debit card rewards programs disappeared when similar mandates were placed on debit cards. As such, it may disappear.
This is why so many people are speaking out against this bill. But Sens. Durbin and Marshall are trying to silence them by using the federal government to target opponents, including the airline industry.
According to recent research, Airlines to America (A4A) opposed the Durbin-Marshall bill, citing the significant harm it would cause to the travel and tourism industry and the U.S. economy as a whole.
Approximately 30 million Americans rely Earn credit card benefits and loyalty points with an airline partner card.
Without these benefits, many Americans would not be able to afford additional 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 airline credit cards would cost the travel and tourism industry $23 billion. This will lead to thousands of job losses. Cities and states that thrive on tourism will be hurt. The last thing our economy needs is a trillion-dollar industry suffering.
The airline industry is aware of the negative effects of this bill and has consistently opposed it. This opposition is now escalating Durbin and Marshall, inciting a witch hunt against the airline industry.
After industry and airline unions spoke out against Durbin and Marshall’s egregious credit card charges, lawmakers pressed The Department of Transportation and the Consumer Financial Protection Bureau (CFPB) will monitor the airline industry for suspected “fraud in airline frequent flyer and loyalty programs.”
Ironically, Senator Marshall did this just a few years after sponsoring it. Don’t Weaponize IRS Laws.
The reality is this: Passing this bill will benefit big retailers like Target and Walmart, but it will hurt ordinary Americans, the economy, and jobs in the travel and tourism industry. Why would we consider a bill that would cause such massive economic destruction?
Americans cannot afford to lose their hard-earned rewards. And those who speak out against flawed laws cannot and should not fear retribution from the federal government just for voicing their opinions.
