Mr. Chairman, this is a troubling piece of legislation you are proposing. I remain unconvinced that the elimination of ATM surcharges is an appropriate idea for . federal legislation. Price controls have the perverse effect of causing shortages, and I am sure the effect on ATM's would be no different.
Passage of the ATM surcharge elimination bill would set a dangerous precedent of the federal government setting prices at the local level. If we set the price on the service and convenience of ATM machines, how long will it be before we set the price on a loaf of bread at the local market? Indeed, federal price setting should be a great concern for every small business HI America.
For the record, I must note that this is a states' rights issue. Alabama and fourteen
other states have passed laws specifically allowing ATM access charges. As such, I
do not understand why we should question the wisdom, much less the choice of the
states.
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