Reports that a key lawmaker cleared a path yesterday for tax code reform debate--by publicly backing the idea of linking an overhaul of the tax code to an increase in the debt limit--truly highlights the need for credit unions to be vigilant in defense of their tax status right now, said CUNA Executive Vice President of Government Affairs John Magill. Read More
After just 12 hours, a new website launched by House Ways and Means Chairman Dave Camp (R-Mich.) and Senate Finance Chairman Max Baucus (D-Mont.) to gather tax reform input from the public has received more than 1,000 submissions, according to the duo’s Twitter account.
“No need to travel to Washington. Through the use of social media, we want all Americans to participate directly,” Camp and Baucus said on the site, www.taxreform.gov. Read More
The long-awaited working group report to the House Ways and Means Committee on tax reform, released Monday, is a mixed bag for credit unions.
On the one hand, the report from the Working Group on Charitable/Exempt Organizations summarized the input it received to be overall in favor of retaining the credit union tax exemption. Read More