Simpson-Bowles commission

• Vigilance Is Watchword on Taxation

  By Heather Anderson  |  January 9, 2013

  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.

• 2013 Watch: Credit Union Taxation in the Year Ahead

  By Heather Anderson  |  December 21, 2012

  Tax expenditures are receiving a lot of scrutiny as Congress looks for ways to increase revenues and cut the deficit.

• Tax Exemption Excision Added by Mistake to House Bill

  By Marc Rapport  |  November 21, 2012

  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.

• Credit Unions Caught in Political Dodge Ball: Editor/Publisher's Column

  By Sarah Snell Cooke  |  November 21, 2012

  Last week, credit unions’ federal tax exemption appeared to be in jeopardy. H.R. 6474 would have gradually repealed credit unions’ tax-exempt status over five years. Fortunately for credit unions, a spokesman for Rep. Dennis Ross, the bill’s sponsor, explained that the inclusion of this in the bill was accidental,...

• Credit Unions Caught in Political Dodge Ball: Editor/Publisher's Column

  By Sarah Snell Cooke  |  November 15, 2012

  While credit unions seem to have dodged this lob for now, it did draw attention to the credit union tax exemption, which the banking lobby is sure to relish.

• Ending Tax Exemption Mistakenly Added to House Bill, Sponsor Says

  By Marc Rapport  |  November 14, 2012

  Spokesman for U.S. Rep. Dennis Ross says exemption should be in "maintain" and not "phase-out" part of the bill.

• Credit Union Tax Exemption on Chopping Block in New House Bill

  By Marc Rapport  |  November 14, 2012

  Five-year phaseout of exemption in Simpson-Bowles commission bill; first time since Reagan era that eliminating exemption proposed.