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From the cover of Sen. Coburn's report.

Sen. Tom Coburn (R-Okla.) recommended eliminating the “unexplainable” credit union tax exemption in a new report on the tax code released on Tuesday.

“Congress should eliminate the tax-exempt status of credit unions as part of comprehensive tax reform, a process by which members of credit unions and non-members alike will undoubtedly benefit from the bounty of enhanced economic growth,” Coburn, a member of the Senate Banking Committee, wrote in the report titled, “Tax Decoder.”

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