Eliminating the tax exemption for credit unions was mistakenlyincluded in the House bill that contains the seven immediatereforms recommended by the National Commission on FiscalResponsibility and Reform, its sponsoring congressman saidWednesday afternoon.
“We regret that the credit union exemption was unintentionallyincluded in the 'phase-out' section of H.R. 6474. It wasintended it to be included in the 'maintained' section of thebill,” said Anthony Foti, spokesman for U.S. Rep. Dennis Ross(R-Fla.)
- Earlier Wednesday: House Bill Has Tax Exemption on ChoppingBlock
“We have been in direct contact with many leaders in the creditunion industry to ensure them that Congressman Ross is working tocorrect this error and he pledges to address it with a manager'samendment,” Foti said.
“Congressman Ross is a staunch supporter of the credit unionsand will continue to be a leader on their behalf,” the spokesmansaid.
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