In its proposed 2017 budget released yesterday, the White House Office of Management and Budget pegged the credit union tax exemption at $26.8 billion over 10 years. The estimate includes a projection of steady growth in the credit union industry, with the taxpayer subsidy growing from $1.7 billion last year to an estimated $3.6 billion by 2025.
ABA DataBank: May inflation cooler than expected, but still above Fed’s 2% target
With many economists expecting inflation to spike following the implementation of reciprocal tariffs, the headline Consumer Price Index rose 2.4% year-over-year in May — right in line with consensus expectations.