For more than 40 years, Senator Orrin Hatch (R-Utah) has been astaunch supporter of the credit union tax exemption. But thelongest serving Republican Senator in U.S. history is having secondthoughts about it, creating a new and serious threat that creditunion executives will be bringing up with Washington lawmakersduring CUNA's GAC this week.
Even though the tax status survived H.R. 1, the Tax Cuts andJobs Act passed by Congress in December, CUNA President/CEO JimNussle warned there will very likely be an attempt to makecorrections to the bill that could once again put the tax status injeopardy.
Scott Simpson, president/CEO of the Utah Credit UnionAssociation, who worked as a senior policy adviser for Hatch about18 years ago, said at first he was alarmed by Hatch's letter.
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