The Taxpayers Protection Alliance announced on Mar. 11 the results of a national poll showing that Americans from various backgrounds rely heavily on credit card rewards to help manage their household budgets.
The findings are significant as they come amid discussions about the proposed Durbin-Marshall Credit Card Competition Act, which could impact how consumers benefit from credit card rewards. The poll indicates that more than two-thirds of working-class cardholders consider these rewards important to their monthly finances, and over one-quarter say they are vital for covering everyday expenses.
David Williams, President of the Taxpayers Protection Alliance, said, “Working-class families and younger Americans are using cashback rewards on groceries and gas to stretch tight budgets.” He added, “Lawmakers pushing the Durbin-Marshall bill are asking Americans to give up a benefit they rely on every day based on a promise voters clearly don’t believe will materialize. The experience with debit card regulation shows what happens: rewards disappear, and prices don’t go down.”
The survey was conducted by GrayHouse between January 29 and 30 among 1,251 registered voters nationwide. It also found broad skepticism among respondents that retailers would pass along any savings to consumers if the proposed legislation were enacted.
Washington D.C.-based Taxpayers Protection Alliance Foundation is a non-profit organization advocating for government transparency through public education efforts such as research and investigative reporting about taxation and government spending effects at all levels, according to its website. Founded in 2011, its current president is David Williams.
As lawmakers continue to debate changes in credit card regulations, the poll suggests that many Americans view existing reward programs as an essential part of their financial planning.
