Credit Unions Excluded from Ross Tax Reform Bill
After insisting credit unions had been accidentally included in his tax reform bill last year, Rep. Dennis Ross (R-Fla.) introduced a revised version Monday that is true to his word.
H.R. 243, the Bowles-Simpson Plan of Lowering America’s Debt Act, targets seven reforms recommended by the National Commission on Fiscal Responsibility and Reform to reduce spending, but credit unions are not among them.
“Representative Ross is a long-time supporter of credit unions," Brad Thaler, NAFCU’s vice president of legislative affairs said. "We appreciate his and his staff’s openness in discussing our concerns and following through on their commitment to not include the credit union tax exemption in this bill.”
Ross, a member of the House Financial Services Committee, was a co-sponsor last congress of member business lending and exam reform legislation, signing on early on both bills.
CUNA Senior Vice President of Legislative Affairs Ryan Donovan said Ross has a strong relationship with Florida credit unions, and is beginning his second term in the House. He’s a lawyer, Donovan said, and has served on the House Judiciary Committee.