Credit unions fight to preserve their tax exemption.

The credit union tax exemption is estimated to cost $10.3 billion between 2019 and 2023, the congressional Joint Committee on Taxation said last week in its latest estimate of tax expenditures.

Unlike other estimates, such as those done by the Treasury Department, the joint taxation committee estimates the cost of such exemptions over five years. The committee releases estimates of all tax exemptions each year.

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David Baumann

 

Credit Union Times

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