Banks' Subchapter S exemption not on president's targeted tax savings list.
NAFCU, CUNA invited to House Ways and Means working group session on Thursday as part of tax reform initiative.
Senate, House plans don't include specifics on which tax loopholes to eliminate.
Veteran lobbyist says working groups include two on credit union radar and that credit unions not stated target, so far.
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.
Florida congressman makes good on promise not to include tax exemption in debt reduction bill.
So Washington (and credit unions) survived the debt ceiling and budget cutting crisis relatively unscathed.