Alex Sandoval, a consultant at the Bill of Rights Institute (BRI), expressed concerns that the Credit Card Competition Act could negatively impact South Carolina’s $29 billion tourism economy. He urged state senators to oppose the bill in a statement made on X.
“I hope Lindsey Graham and Senator Tim Scott will stand by our state’s $29 billion tourism industry,” said Sandoval. “by stopping Sen. Durbin’s harmful Credit Card “Competition” Act.”
Opposition to the Credit Card Competition Act has been growing in South Carolina, particularly among those involved in tourism. They argue that the legislation could dismantle credit card rewards programs essential for travel spending. The bill, also known as the Durbin-Marshall Act, seeks to reduce interchange fees by allowing merchants to route transactions through alternative networks. Critics say this would remove banks’ financial incentives to fund rewards programs, potentially discouraging travel to destinations like South Carolina. In 2022, visitors spent over $25 billion in the state, supporting one in ten jobs and generating nearly $2 billion in taxes, according to reports from GSA.
According to the South Carolina Department of Commerce, tourism is a key component of South Carolina’s economy, contributing over $29 billion annually and supporting more than 200,000 jobs. This sector accounts for about 10% of the state’s employment and helps reduce the tax burden per resident by nearly $1,000 through tourism-related tax collections. The industry’s growth highlights its importance to the state’s economic health and the potential risks posed by policies that could deter travel spending.
Small businesses in South Carolina depend heavily on credit card payments for customer transactions and as a primary source of financing. According to the Small Business Payment Alliance, credit cards provide these businesses with crucial benefits such as access to funds for inventory, travel, and unexpected expenses. Rewards programs offer additional value by enabling businesses to reinvest in operations or provide employee benefits. The proposed legislation threatens this financial ecosystem by potentially increasing operational costs and limiting growth opportunities for small enterprises.
Sandoval is a student at the University of South Carolina majoring in Political Science and History while serving as a consultant at BRI. According to his LinkedIn profile, he is involved with the University’s Legislative Action Network, advocating for student policy priorities at the South Carolina Statehouse. His past experience includes organizing canvassing operations for Vivek Ramaswamy’s 2024 presidential campaign and managing debate events as League Chair for Incubate Debate’s LowCountry division. His work has consistently focused on public outreach, education, and civic engagement.
