A thousand signatures in first 12 hours, says Rep. Camp and Sen. Baucus.
GOP-powered panel says enough to build Mount Rushmore more than 1,500 times.
House panel does say this about credit unions vs. banks: "Most of those differences have disappeared over time."
NAFCU, CUNA invited to House Ways and Means working group session on Thursday as part of tax reform initiative.
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 powerful leaders oversee financial institutions and the NCUA, originate tax reform and wield considerable influence.
There is strong evidence of a “grand bargain” being agreed to by Congress and the White House by year-end in order to avert a dramatic impact on the economy.
The banking lobby has drawn what it hopes is a powerful sword in its crusade against an increase in the member business lending cap: taxes.
They’ve given money and done other things necessary for relationship building with members of Congress’ new deficit cutting panel.
All three picks have promised to protect entitlements while Republican members continue opposition to tax hikes.