Jul 12, 2023 | Celebrity

A Government Handout to Walmart and Target

A Government Handout to Walmart and Target

The following content is sponsored by the Electronic Payments Coalition.

How soon we forget. It wasn’t too long ago that Republican legislators acknowledged Walmart’s growth represented a threat to Main Street businesses. Economists even coined the term “the Walmart Effect” to refer to the economic pain felt by local businesses when a large company like Walmart opens a location in a community and squeezes out local mom-and-pop shops. Despite the not-too-distant past, Walmart has convinced a handful of lawmakers in Congress that the $600+ billion company needs a government handout.

In June, big-box retailers led by Walmart and Target were successful in getting Senators Dick Durbin (D-IL), Roger Marshall (R-KS), J.D. Vance (R-OH), and Peter Welch (D-VT) to introduce legislation that would create new credit card routing mandates. These mandates would allow Walmart to…

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