Designating the Week Starting on Black Friday as “National Electronic Payments Week” (S. Res. 603)

What is S. Res. 603?

(Updated March 15, 2018)

This resolution would designate the week beginning on the Friday after Thanksgiving in 2016 as National Electronic Payments Week to recognize the importance of electronic payments and the advantages they provide for consumers, merchants, small businesses, and the economy as a whole.

It would also express appreciation for the significant role electronic payments play in the global marketplace and their growth domestically, while encouraging continued innovation and enhanced security in electronic payments.

As a simple resolution, this bill wouldn’t have the force of law or advance to the House if passed by the Senate.

Argument in favor

Electronic payments play a vital role in America’s economy, and it makes sense for the week beginning on Black Friday to be known as “National Electronic Payments Week.”

Argument opposed

There’s no reason for Congress to be designating a “National Electronic Payments Week.” Yes, they’re important, but not there’s not enough weeks in the year to recognize everything.

Impact

People who benefit from electronic payments.

Cost of S. Res. 603

A CBO cost estimate is unavailable.

Additional Info

In-Depth: Sponsoring Sen. Johnny Isakson (R-GA) introduced this resolution to recognize the significance of electronic payments to the American and global economy:

“For the first time in American commerce, more individuals shopped online than in stores in 2015. Our U.S. companies lead the payments industry, and Georgia is the industry’s home. That’s why I felt it was important to help launch a bipartisan legislative initiative to call attention to this vital industry during the busiest retail time of the year.”

This legislation has the support of three cosponsors in the Senate, including Sen. Mike Rounds (R-SD), Sen. Gary Peters (D-MI), and Sen. David Perdue (R-GA).

Media:

• American Transaction Processors Coalition (In Favor)