New Jersey
New Jersey merchants deserve relief from credit card swipe fees | Opinion
3-minute read
Americans owing record credit card debt are carrying debt for longer
Will the potential federal interest rate cuts help Americans unload credit card debt in the second half of 2024?
Scripps News
New Jersey residentss are still anxiously awaiting the significant financial relief that was promised on the 2024 campaign trail. Providing economic relief and helping out mom and pop businesses are a cornerstone of sensible policy and the type of kitchen table issues that matter to us as voters. And with Americans more concerned about the economy than ever before, having Senators like Andy Kim and Cory Booker who can help quickly pass legislation like the Credit Card Competition Act will help address those anxieties by boosting small businesses and reducing costs for consumers.
The Credit Card Competition Act, or CCCA, will lower the out-of-control credit card swipe fees levied on small businesses by big banks and card companies. Here in New Jersey, small businesses paid over $3 billion in swipe fees in 2023 alone, with swipe fees across the United States more than tripling over the last decade. This unprecedented increase in fees is the direct result of Visa and Mastercard’s dominance of the payments industry.
In the absence of serious competition, Visa and Mastercard have taken it upon themselves to raise swipe fees repeatedly. Meanwhile, merchants have been forced to pass on those higher fee payments to consumers in the form of increased costs. Unlike credit card executives, however, ordinary Americans aren’t made of money. New Jersey households already spend 32% more than the national average on everyday bills and costs, and an added burden from swipe fees only puts unnecessary strain on the state’s economy. American families are paying on average more than $1,100 a year in higher prices as a result of swipe fees. After four years of historic inflation, we simply can’t afford that.
If Congress wants to reduce costs for businesses in the Garden State and nationwide, it should vote to pass the Credit Card Competition Act which has received overwhelming support from the public, a variety of merchant associations, and even the Teamsters and the SEIU, some of America’s largest unions.
This legislation will let merchants choose between a minimum of two different credit card networks when processing a payment, providing an avenue for more competition in the payments industry and giving Visa and Mastercard an incentive to lower their swipe fees in order to remain competitive. A drop in fees would result in significant savings, upward of $475 million for New Jersey businesses and consumers annually. Saving on swipe fees means more funds to improve wages, hire more staff, and lower prices on goods and services.
It’s time to move past the campaign promises and finally tackle issues that are actively increasing costs. I hope Sen. Andy Kim and Sen. Cory Booker will support passage of the Credit Card Competition Act and exemplify the support this bill has already received. Swipe fees don’t discriminate by party, and lowering costs for Americans should be a top priority for every member of Congress.
Joseph Allegre is owner of Supreme Team Barber Lounge in Hazlet.
New Jersey
Husband of slain New Jersey mom begs for help in newly released 911 call | Fox News Video
Former homicide detective Brian Foley joins ‘Fox & Friends Weekend’ to provide analysis on Conor Hanlon’s 911 call after finding his wife, Brooke, stabbed to death.
Former homicide detective Brian Foley provides expert insights into the newly released 911 call from Conor Hanlon, whose wife, New Jersey therapist Brooke Hanlon, was found stabbed to death. Foley analyzes the husband’s emotional state and the police’s approach, noting the case’s ‘suspicious’ designation 13 minutes into the call.
New Jersey
NJ firefighter dies after crash responding to fire call
A young firefighter died two weeks after being badly hurt in a crash while responding to a fire call, according to the Malaga Fire Company.
Robert (Bobby) Reider, 23, was driving north along Delsea Drive while trying to get to the scene of fire on Saturday, June 27 when his car went off the road, officials said.
When first responders got to the scene of the crash, they found Reider trapped in his car and worked to remove him.
Reider was then taken by helicopter to a nearby hospital where he was treated for severe and traumatic injuries.
Weeks later, on July 10 around 4:30 a.m., Reider died from his injuries while still in the hospital.
The Malaga Fire Company says that Reider joined their team in 2018 when he was just 16 as a junior firefighter.
He then went on to earn a certificate at Fire 1 at the Salem County Fire Academy in 2022.
New Jersey
NJ Legislators Are Considering a Bill That Could Ban Tesla Robotaxis Due to Their Tech Choice
New Jersey lawmakers are deliberating on a law that would create a three-year autonomous vehicle pilot program in the state, but Tesla might be banned from participating altogether over a technical choice made by the Texas-based carmaker for its self-driving vehicles.
The bill, officially known as S1677, would establish autonomous vehicle testing requirements with the New Jersey Department of Transportation (DOT) and the New Jersey Motor Vehicle Commission. One of these proposed requirements is that autonomous vehicle operators use camera-based technology and two additional forms of sensor tech, such as lidar or radar. Of course, Tesla’s autonomous vehicle technology is purely camera-based, meaning the brand could be banned from testing in New Jersey.
The text of the bill is fairly straightforward, requiring prospective autonomous operators to submit a “law enforcement interaction plan” and detail redundant safety systems, crash-avoidance technology, and data recording capabilities. The specific language that would ban Tesla’s system requires autonomous operators to “be equipped with crash-avoidance systems, including a camera system and two distinct sensing modalities that are capable of detecting and tracking obstacles in the event of failure of the camera system.” The bill also favors keeping traditional steering wheel and pedal controls available. While initial testing would be completed with human safety operators, the bill would allow fully autonomous operation once certain metrics, such as 50,000 crash-free miles, are met.
The decision to require both camera- and sensor-based technology is not a coincidence, according to The Verge. “This is not anti-Tesla. I’m pro-New Jersey safety,” Democratic state senator Andrew Zwicker, the bill’s primary sponsor and a physicist by trade, said to The Verge. “At this point, I don’t think the evidence is sufficient that a single sensor with software can handle situations that humans can.”
Tesla is, unsurprisingly, upset about this development, and the company is fighting back. The automaker’s public policy platform, Engage Tesla, features a call to action for Tesla owners to contact members of the New Jersey Legislature to oppose the bill, with the plea claiming the autonomous vehicle testing program is the opposite of progress, and saying that Tesla would be legally barred from testing in the Garden State. Statistics about roadway death rates in New Jersey and denying freedom of movement for elderly populations are also included.
“Rather than prioritizing real safety outcomes and performance, the bill specifically bans Tesla from the New Jersey market,” the site reads. “Every arbitrary roadblock is a delay for the people who need this life-changing technology most. Legislation that bans Tesla’s proven AV technology from the market is not caution — it’s anti-competitive favoritism that will cause New Jersey to fall behind while other states move forward.”
The bill, introduced on January 16, is currently under consideration by the New Jersey Senate Budget and Appropriations Committee. The bill’s language closely mirrors talking points from the nonprofit SAVE-US, which is lobbying for stronger oversight of autonomous vehicle testing. New Jersey is not the only state pondering additional autonomous testing regulation; New York legislators are working on similar legislation. Just yesterday, federal safety regulators called out autonomous vehicle operators like Waymo for interfering with first responders.
A New York transplant hailing from the Pacific Northwest, Emmet White has a passion for anything that goes: cars, bicycles, planes, and motorcycles. After learning to ride at 17, Emmet worked in the motorcycle industry before joining Autoweek in 2022 and Road & Track in 2024. The woes of alternate side parking have kept his fleet moderate, with a 2014 Volkswagen Jetta GLI and a BMW 318i E30 street parked in his Queens community.
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