Independent Community Bankers of America's website. Independent Community Bankers of America’s website. (Source: Adobe Stock)

As President Biden prepares to outline possible corporate tax increases to pay for his spending proposals, NAFCU fired back at community bankers who contended that taxing credit unions would be an attractive means for raising revenue.

“The fact is that the estimated benefit credit unions provide the greater economy totals roughly $16 billion a year, or $159 billion over 10 years, according to NAFCU’s own independent study,” NAFCU Vice President of Legislative Affairs Brad Thaler wrote to members of congressional tax-writing committees.

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