The estimated 10-year cost of the credit union tax exemption jumped a whopping 32.3% over a year ago, according to the Trump Administration budget released Tuesday.
The administration's budget offered no explanation for the jump from $26.75 billion in Fiscal 2017 to $35.31 billion in Fiscal 2018. The Office of Management and Budget, which prepared the administration's budget, did not respond to a request for comment.
Comparing the two previous years—2017 and 2016—the increase was about 5.4% in President Obama's budgets.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
