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Tyler Reporter

Thursday, November 21, 2024

Lance Gooden advocates for Credit Card Competition Act amid rising swipe fee concerns

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Lance Gooden U.S. House of Representatives from Texas's 5th district | Official U.S. House Headshot

Lance Gooden U.S. House of Representatives from Texas's 5th district | Official U.S. House Headshot

Lance Gooden, a U.S. Congressman representing Texas' 5th district, has recently shared his perspectives on financial and security issues through social media. Known for his legislative focus and representation since 2019, Gooden's statements reflect ongoing concerns about economic practices and national security.

On November 19, 2024, Gooden highlighted the significant financial burden of swipe fees on consumers, stating that "$130 billion in swipe fees were charged last year alone." He criticized Visa and Mastercard for not prioritizing American interests and promoted the Credit Card Competition Act as a means to "level the playing field for small businesses & save consumers money."

Later that day, he reiterated the impact of these fees by describing them as "Credit card swipe fees: A secret tax that drains your wallet every time you swipe." According to Gooden, these fees added over $1,000 to the average family's expenses in 2022. He emphasized that his proposed legislation aims to introduce competition in the market to reduce such excessive charges.

On November 20, 2024, Gooden shifted focus to national security concerns with a tweet regarding the presence of a violent gang. He stated that "The violent Venezuelan gang Tren de Aragua has set up shop in 16 states." He warned that opposing President Trump's border plans could facilitate the gang's spread across all states.

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