CU Taxes a Target for New Budget Panel?
Credit unions dodged a taxation bullet with the latest spending reduction package, but it remains to be seen how long their luck will hold.
On Aug. 2, President Obama signed legislation that cut spending and raised the debt ceiling, and at the insistence of congressional Republicans, didn’t raise taxes or close loopholes.
NAFCU Vice President Brad Thaler said it is important to remain vigilant because it is quite possible that there will be a situation in which everything will be on the table.
John McKechnie, a former senior official of CUNA and the NCUA who is now an independent lobbyist, said the House-Senate committee “could be subject to less political pressure than the regular committees and therefore it could be harder for lobbyists to make their case than in the normal legislative process.”