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Cash is king, and a bipartisan pair of senators want to keep it that way
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Senator John Fetterman, a Democrat from Pennsylvania, and Senator Kevin Kramer, a Republican from North Dakota, introduced legislation that would ensure people can
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pay in cash when purchasing goods or services from a brick and mortar business
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The Payment Choice Act would prohibit businesses from refusing cash payments up to $500
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and give consumers the right to use paper currency, even if a business says it only accepts electronic payments
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It mirrors legislation that failed to pass Congress in 2019 and 2023
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The bill would also prohibit businesses from charging a fee to customers paying in cash
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It's simple. If you're open for business in America, you should take U.S. dollars, Fetterman said in a statement
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Cash is still legal tender in the United States, despite some businesses' exclusive acceptance of electronic payments
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forcing the use of credit and debit cards or imposing premium prices on goods and services
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paid for with cash limits consumer choice. Americans should have the option of using
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cards or cash, but they should be the ones who make that choice, Kramer said
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The bill provides a few exceptions, including if a business has a device that converts cash
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into prepaid cards without a fee or if the business doesn't have enough cash to make change
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Despite a decline in cash payments during the last few years, this demographic still represents nearly 20 percent of all payments in the U.S. economy, a press release from Senator Fetterman's office states
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For Straight Arrow News, I'm Lauren Keenan. If you want more on this story, download the Straight Arrow News app or visit SIN.com
