Levin to Chair Ways and Means Committee
House Democrats set aside seniority today and chose Rep. Sander Levin (D-Mich.) to chair the Ways and Means Committee.
Levin, who chairs the panel's Subcommittee on Trade, has been a friend of credit unions, though he is not a cosponsor of the legislation to raise the cap on member business lending from 12.25% to 25%.
His committee has jurisdiction over tax and health policy, including whether credit unions can keep their tax-exempt status.
CUNA's political action committee has contributed $17,000 to Levin's campaigns during the last three election cycles. During the same period, NAFCU's political action committee has given $3,000.
Levin, a House member since 1983 and the older brother of Senate Armed Services Committee Chairman Carl Levin (D-Mich.), takes the place of Rep. Charles Rangel (D-N.Y.), who stepped aside pending the outcome of an ethics investigation.
By choosing Levin, House Democrats bypassed the number two member of the panel, Rep. Pete Stark (D-Calif.).