Apaparently there is nothing that the Democrats don’t want to regulate.

One year after putting retailers on notice, Sen. Charles Schumer said he will be introducing federal legislation that will install mandated standards on gift cards.

Under the proposal Schumer unveiled Wednesday afternoon at the Walden Galleria, all gift cards would have at least a five-year life span while eliminating the practice of declining values and hidden fees for those cards not used within a reasonable period of time. Schumer said the bill, which he dubbed the “Fair Gift Card Act”, could be enacted by federal lawmakers in time for next year’s peak holiday shopping season.

“The truth is gift cards should come with a warning attached,” Schumer said. “You need to know where to look and to look carefully with gift cards.”

Schumer said his office is frequently flooded with calls from angry consumers who were giving gift cards only to find they have a limited life or have a decreasing value after a given period of time, sometimes less than six months.

Democrats always label their actions as being in the interest of fairness. But how is it fair for the government to tell a business how to run its business? For one thing, gift cards already have printed disclaimers on them. It is also quite common for gift cards to have a limited life… and I say what is wrong with that? As long as the consumer is aware of the policy they can decide whether or not they want to get the gift card.

Another problem with government mandated non-expiring gift cards is that if the campany goes out of business the state (read: taxpayers) has to honor them. And how is that “fair” to the taxpayer.

I have a stash a gift cards… some expire, some don’t. If I fail to use them while they are still redeemable that is my fault… not the taxpayers’ responsibility.

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