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New Tax Exemption Threat Hits Credit Unions

Sen. Hatch is having second thoughts about his support of the credit union tax exemption.

By Peter Strozniak | Updated on February 23, 2018

For more than 40 years, Senator Orrin Hatch (R-Utah) has been a staunch supporter of the credit union tax exemption. But the longest serving Republican Senator in U.S. history is having second thoughts about it, creating a new and serious threat that credit union executives will be bringing up with Washington lawmakers during CUNA’s GAC this week.

Even though the tax status survived H.R. 1, the Tax Cuts and Jobs Act passed by Congress in December, CUNA President/CEO Jim Nussle warned there will very likely be an attempt to make corrections to the bill that could once again put the tax status in jeopardy.

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Peter Strozniak

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