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Vermont Governor Jim Douglas has the power to make his small state the first in the country to pass a measure that could significantly impact the amount of card interchange earned from card transactions.

Both chambers of the Vermont legislature have passed a measure, which would prevent merchants with a physical presence in the state from any penalties from the card brands for refusing to accept cards as payments for purchases of less than $10.00. The legislation would also allow merchants to offer discounts for the use of cash instead of cards and to decide not to take cards at all of their locations.

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