patrick lapine richard shelby senate banking chairmanOn Feb. 11, CU Times posted a story, "Shelby Waffles on Credit Union Tax Exemption," as breaking news.

Anytime the Senate Banking Chairman is asked about the credit union tax exemption, it is newsworthy. I understand that.

However, the tone of the article suggested the Sen. Richard Shelby (R-Ala.) said something new or counter to his previously stated position on the issue. Sen. Shelby, who does not sit on the Senate Finance committee, clearly stated that he believes in starting over on the tax code but does not believe that will happen. If you read his quotes, he did not "waffle" on the credit union tax exemption.

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