As credit unions hunker down in defense of their federal tax exemption, the industry does have one thing in its favor. There are no known enemies among leadership on the House Ways and Means or Senate Finance Committees.
These three articles offer an in-depth look at the beginning of the new year for Congress and credit unions.
Florida congressman makes good on promise not to include tax exemption in debt reduction bill.
CUNA announced new legislative priorities for 2013 that include four key agenda items: preserving the credit union tax exemption, reducing regulatory burden, engaging in housing finance reform and advancing credit union charter enhancements.
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.