NAFCU and CUNA are continuing their efforts to protect the credit union tax exemption in 2015 in anticipation of tax reform in the New Year.
Members of Congress and the White House have signaled that tax reform could move forward this year and the credit union trade groups have vowed to remain vigilant in defending credit union tax status.
"We now have Chairman [Orrin] Hatch (R-Utah) and Chairman [Paul] Ryan (R-Wis.) in charge and they have indicated they want tax reform. It's unclear what tax reform will look like but anytime there's a tax reform debate, we think it's important to remain vigilant and protect the credit union interest," Brad Thaler, NAFCU vice president of legislative affairs, said.
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