According to industry veteran John McKechnie, who was working on Capitol Hill back in 1986, the last time credit union tax exemption was on the Congressional chopping block, a “volatile” environment on Capitol Hill means credit unions should be vigilant when it comes to protecting their tax-exempt status in 2013.
Trade group hits the Hill as Congress begins new session.
Resolution for 2013: Put some energy into political activity, regardless of which side of an issue you're on.
Tax expenditures are receiving a lot of scrutiny as Congress looks for ways to increase revenues and cut the deficit.
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Lending, liquidity and tax exemption are three areas where the search for the Grand Bargain could impact credit unions.
Report filled with bankers' talking points, ignores bank tax breaks.
The first question asked: Which is worse for your credit union: Regulatory burden or loss of tax exempt status?
Credit unions and consumers deserve the gift that keeps on giving – burgeoning membership and expanded services, including small business lending.
Eliminating the tax exemption for credit unions was mistakenly included in the House bill that contains the seven immediate reforms recommended by the National Commission on Fiscal Responsibility and Reform, its sponsoring congressman said last Wednesday afternoon.