Obama's Economic Recovery Board

Exemption On the Firing Line

By Claude R. Marx | April 20, 2011

Credit unions are on alert about the fate of their tax-exempt status as a result of President Obama’s speech outlining his deficit reduction strategy.
Obama Deficit Reduction Proposals Could Include Removal of CU Tax Exemption

By Claude R. Marx | April 12, 2011

President Obama's new deficit-reduction package could include killing the credit union tax exemption.
Exemption on the Table

November 17, 2010

A draft proposal of a report by a presidentially appointed deficit reduction panel includes an option that would eliminate many tax exemptions, including the one for credit unions.
Credit Unions May Face a Taxing Dilemma

By Claude R. Marx | October 20, 2010

As the nation's budget deficit continues to grow, the government may be looking for new sources of revenue. Therefore, formerly sacred cows such as credit unions' tax-exempt status may go the way of VCRs and rotary phones.