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New “Rich Versus Poor” Attack On Credit Cards Wants To Tax Rewards

In an effort to raise revenue for the state, a bill now popping up in the California State Legislature would tax all credit card rewards, including travel. The bill, Senate Bill 839, would also tax the value of airline and car rental points. This would hurt everyone, from consumers to the travel industry, but it would hit the hardest for those who work hard for their rewards. A new attack on a popular type of credit card is underway, targeting the rewards that cardholders earn. The proposed rules would moderateRead More