WASHINGTON — Even as Democrats took the stage at NAFCU's 2007 Congressional Caucus and promised not to tax credit unions, Republicans got up and warned participants of the tax increases that could reach credit unions.

"I come from credit union country. Where I come from, people work for a living," House Ways & Means Committee Member Phil English (R-Pa.) said.

Noting the improving economy yet greater income disparities, he said, "I've been a supporter of the credit union movement and I believe the credit union movement has a particular salience today." With savings at an all-time low, he explained how he and others are working to establish automatic individual retirement accounts and similar savings vehicles for children when they are born.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.