Treasury Secretary Steven Mnuchin released a broad outline of President Donald Trump’s tax reform agenda Tuesday, and while details are currently sparse, CUNA has engaged and will continue to engage with policymakers and staff. In addition to advocacy efforts in Washington, D.C., CUNA is working with its league partners to defend the credit union tax status at the state level.
According to the summary, the goals of tax reform are to grow the economy and create jobs, simplify the tax code, provide relief to middle-income families and lower the business tax rate “from one of the highest in the world to one of the lowest.”
Businesses would be taxed at 15%, per the summary released Wednesday.
More details are expected to be released by the administration in June. Until then, CUNA will continue its regular meetings and discussions with key policymakers.