GAC Focus on Tax Exemption, Data
Heading into the GAC, legislative priorities for credit unions include protecting the tax-exempt status, data security and housing finance reform.
“There's a lot of action going on behind the scenes with respect to tax reform. In the House Ways & Means committee, you’ve got members working on draft legislation. Now in the Senate Finance Committee, you’re having a transition to a new chairman who's had his priority as tax reform for some time,” said Ryan Donovan, CUNA's senior vice president of legislative affairs. “It's very much an issue that is in play behind the scenes and frankly, decisions that are made this year about tax reform are really going to influence the outcome of the legislation whenever it's finalized.”