Magnolia State News

The National Federation of Independent Business (NFIB) is advocating for the Mississippi House to pass H.879, known as the Retailer Tax Fairness Act. This proposed legislation aims to provide financial relief to small businesses facing increased credit and debit card processing fees.

Leah Long, NFIB State Director, emphasized the importance of this bill, stating, "Mississippi’s small businesses are the backbone of our economy, but they’re being squeezed by ever-increasing costs." The act would establish a tax credit designed to help offset these unavoidable interchange fees that businesses incur when processing card transactions.

Long further highlighted the competitive disadvantage faced by small businesses compared to larger retailers who can negotiate lower fees. She noted that smaller enterprises often have no option but to absorb these costs or transfer them to their customers. "If we want to keep Mississippi’s economy strong, we must ensure small businesses aren’t unfairly burdened by rising costs," Long added. "The Retailer Tax Fairness Act is commonsense legislation that would relieve some of the pressure on our Main Street businesses."

The passage of this act is seen as crucial for helping small businesses remain competitive and continue contributing positively to job creation in Mississippi.