The House Wednesday cleared the conference report on thehuge tax overhaul bill that preserves thecredit union tax exemption, but the battle may not be over.

Congress sent President Trump the tax bill, but congressionalleaders already have warned that a so-called technical correctionsbill likely will be necessary to fix unintended consequences anderrors in the legislation.

The House vote was 224-201.

That is often the case with such a large bill and House Ways andMeans Chairman Kevin Brady (R-Texas) said he already is working onsuch a measure.

“The credit union tax status remains untouched in the bill, butthere will very likely be an attempt to make corrections and thatcould once again put our tax status in jeopardy,” CUNAPresident/CEO Jim Nussle warned.

The House on Wednesday had to make a few technical correctionsto the bill because it violated the so-called “Byrd Rule” in theSenate. That rule, named after former Senate Majority Leader RobertByrd (D-W.V.), restricts extraneous material from being included ina reconciliation bill. It was an amendment to the Budget Act of1974.

The Senate deleted the tax bill provisions and adopted theconference report. The House adopted it Wednesday.

House Rules Committee ranking Democrat Louise Slaughter (D-N.Y.)said such errors were inevitable because of the poor process usedto write the measure.

“Imagine what errors we have yet to discover,” she said duringWednesday's debate. “I know this is not the last time we will behere to fix this bill.”

Nussle said that credit unions will be prepared for thatfight.

“If we need to make our voice heard once again as we head to thefinish line, we'll call on you,” he said, in a message to CUNAmembers.

NAFCU President/CEO B. Dan Berger also has emphasized the needfor the tax exemption.

“The preservation of the credit union tax exemption is vital forthe 110 million Americans who are credit union members,” hesaid.

Bankers also said they will be prepared for any futurefight.

“Congress should treat businesses providing the same servicesthe same way and that is not happening today,” ABA President/CEORob Nichols said. “We will continue to argue for a level playingfield until Congress ends this inequity.”