Lieberman Expresses Gratitude for Political Backing, Support for Tax-Exemption
WASHINGTON -- Senator Joe Lieberman (I-Conn.) acknowledged the Credit Union Legislative Action Council of CUNA for supporting his "most unusual campaign" for re-election last year though he was unaware CULAC was helping out at the time.
That is because CULAC purchased direct mail pieces and had them delivered for $234,873 in independent expenditures, according to the Center for Responsive Politics--a category where the contributor cannot coordinate their efforts with the candidate--in support of Lieberman's campaign. Lieberman lost the Democratic primary, but ultimately won the general election as an Independent.
During his address at CUNA's Governmental Affairs Conference this year, Lieberman expressed strong support for the credit union tax-exemption while saying he was willing to "work with" credit unions in the push for the Credit Union Regulatory Improvements Act.
"I'm a real believer in the credit union system," Lieberman said. "I'm proud to do all my banking through the U.S. Senate Federal Credit Union."
He applauded credit unions' work to provide savings avenues for "provident" purposes. "I will fight any attempt to take away the tax-exempt status," Lieberman said. He added, "I'll also work with you on the Credit Union Regulatory Improvements Act."
Despite losing Senator Rick Santorum (R-Pa.)--who was unsuccessful in his re-election bid--as the other primary co-sponsor for his individual development account legislation, Lieberman said he looks forward to introducing the legislation this Congress with Senator Jim Bunning (R-Ky.).
The former Democrat noted his efforts to work across party lines, such as the IDA legislation, and the bi-partisan breakfasts he hosts with fellow senators. "The great thing about the credit union movement is that it is non-partisan," Lieberman said.