Rep. John Larson (D-Conn.), a member of the House Ways & Means Committee, told Credit Union Times on Tuesday that the committee's latest tax reform draft protects the credit union tax exemption. House Ways and Means Committee Chairman Dave Camp (R-Mich.) is expected to release the draft on Wednesday.

“Yeah, that's in good shape … but this is a draft. So, as I said out there, vigilance is eternal in terms of making sure that people get their message here on Capitol Hill,” Larson said after his speech at CUNA's Governmental Affairs Conference.

“It's nothing against community bankers, I understand their position, they serve a vital role and function too, but to go after the credit unions on this, I think it is more than a little unfair,” he added.

Credit Union Times also asked Larson if he would support a tax reform package that taxes credit unions.

“We're committed to protecting the exemption,” he said in response.