Senate Finance Committee Chairman Max Baucus andRanking Member Orrin Hatch have sent a letter to their colleaguestating that they want to start with a clean slate on tax reform.It would be excellent if that really happens. Programs would haveto prove that they provide value in order to receive tax exemptions. The senators' letter described the tax code as“littered with preferences for special interests.”

The exemptions that make it through the process, according tothe senators, will have to provide evidence of economic benefit,that they make the tax code fairer or effectively promote otherimportant policy objectives.

As Meat Loaf sang, “Two out of three ain't bad.” Credit unionsshould have no trouble meeting the criteria. In an effort to headoff the initiative at the pass, CUNA launched it's Don't Tax My Credit Union campaign, comprising a website on howto get involved, a social media barrage and a traditional mediablitz.

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