A U.S. Government Accountability Office report released Monday said the Treasury's estimated corporate revenue loss due to the credit union tax exemption was $1.1 billion in 2011.
That's below the 2014 Obama budget figure of $1.44 billion in 2012, but more than double the Congressional Joint Committee on Taxation's 2012 estimate of $500 million, also for 2012.
Also Read:
Obama Budget Boosts CU Tax Exemption Hit
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