WASHINGTON — House Ways & Means Committee member J.D. Hayworth (R-Ariz.) said credit unions need not worry about their tax-exemption now, but advised to always keep a close eye on the matter.

"The power to tax is the power to destroy," he quoted during the NAFCU/PAC breakfast associated with Congressional Caucus last Wednesday. But, he added, the corollary is also true that reducing taxes "is the power to employ." Hayworth pointed to President Bush's tax cuts that actually boosted tax receipts for the federal government.

Along those lines, he noted, "Chairman [Bill] Thomas is an interesting, interesting man to work with…Until the end of this Congress that means this is Bill Thomas' world and we're just living in it." Hayworth assured, "I don't believe personally or philosophically with saddling anybody with a tax increase." He said he did not see a change in the immediate future either. "However, you are wise to remain vigilant," he said. Meeting with federal representatives in Washington and back home is a good way of making sure credit unions' positions are out there. Of his personal visits with credit union constituents, Hayworth said, "I wanted to see them because the constitutional office I'm honored to hold is 'representative.'" He explained, "If your member of Congress fails to be attentive…well then you ought to remember in November. They work for you."