Curated News
By: NewsRamp Editorial Staff
April 10, 2025
Texas Business Coalition Pushes for Fair Reimbursement Act to Support Retailers
TLDR
- Texas businesses stand to gain a competitive edge with HB 2428, reducing losses from credit card fees and boosting profitability.
- HB 2428 updates the reimbursement rate to 2.5% for credit card transactions, ensuring fair compensation for retailers collecting taxes.
- HB 2428 supports small and minority-owned businesses, promoting economic fairness and alleviating financial burdens on retailers.
- HB 2428 highlights the importance of modernizing tax policies to support business growth and enhance economic sustainability in Texas.
Impact - Why it Matters
This news highlights the ongoing challenges faced by Texas retailers and the need for a fair reimbursement system that reflects the current business landscape. If passed, HB 2428 could provide much-needed financial relief to small and minority-owned businesses, ultimately supporting the state's economy and promoting business growth and sustainability.
Summary
The Texas Association of Mexican American Chambers of Commerce (TAMACC) and various business organizations in Texas are advocating for the passage of House Bill 2428—the Fair Business Reimbursement Act. This bill aims to update the reimbursement rate for credit card and digital transactions, providing relief to retailers who have long shouldered processing fees without adequate compensation.
Source Statement
This curated news summary relied on this press release disributed by Noticias Newswire. Read the source press release here, Texas Business Coalition Pushes for Fair Reimbursement Act to Support Retailers
