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WASHINGTON – Ending credit unions’ federal tax exemption would cost the country billions in lost revenue and jobs, according to a study commissioned by NAFCU and released Wednesday during the trade group’s Congressional Caucus.

Research presented in a report – titled “Economic Benefits of the Credit Union Tax Exemption to Consumers, Businesses and the U.S. Economy” – found that loss of the credit union tax exemption would cost the federal government $15 billion in lost tax revenue, $148 billion in GDP, and 1.5 million lost jobs over the next decade.

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