CUNA is engaged with a number of activities on Capitol Hill this week, including the Senate’s tax reform consideration and several hearings. The Senate Finance Committee passed the Tax Cuts and Jobs Act, which leaves the credit union tax status untouched, earlier this month.
“The legislation that made its way through the Senate Finance Committee prior to the recess does not alter or eliminate the credit union tax status,” said CUNA Chief Advocacy Officer Ryan Donovan. “We’ll be watching the debate and watching amendments as they’re offered and considered.”
The House passed its tax reform bill earlier this month, and if the Senate bill passes, the two chambers will likely meet in conference to work out the differences in the two bills.
Hearings CUNA is engaged with this week include:
In addition, CUNA is continuing its advocacy efforts and nationwide grassroots support of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2251), the bipartisan Senate measure with several regulatory relief provisions for credit unions.
The Senate Banking Committee is scheduled to markup S. 2251 starting Dec. 5.