Senate Passes Major Tax Reform Bill
After a flurry of last-minute amendments closely tracked by ABA, the Senate overnight voted to pass a sweeping tax cut and reform bill.
After a flurry of last-minute amendments closely tracked by ABA, the Senate overnight voted to pass a sweeping tax cut and reform bill.
American voters overwhelmingly are unaware that credit unions pay no federal income taxes, and when told about it, more than half would support a tax reform plan that eliminates the credit union tax exemption to limit deficit increases, according to a survey conducted by Morning Consult for the American Bankers Association.
The House today voted 227 to 205 to pass H.R. 1, the landmark tax reform bill that would be the first major overhaul of the tax code in more than three decades.
As lawmakers work to overhaul the U.S. tax code for the first time in more than three decades, an op-ed posted on Utah Policy Daily this week called on Senate Finance Committee Chairman Orrin Hatch (R-Utah) to more closely examine the tax exemption granted to the nation’s largest credit unions.
As the legislative process continues for the first major tax code overhaul in three decades, Senate Finance Committee Chairman Orrin Hatch (R-Utah) yesterday released his own draft of tax reform legislation.
House Republican leaders today unveiled a draft of sweeping tax reform legislation — the first major overhaul of the tax code in more than three decades.
In an op-ed in the Charlotte Observer last week, Yael Ossowski, deputy director of the Consumer Choice Center — a D.C.-area consumer advocacy group — called on the Trump administration and Congress to take steps to eliminate the credit union tax exemption as part of the broader plan to reform the U.S. tax code.
Insights from a Fed/CSBS survey of the community bank scene.
ABA today filed a notice of supplemental authority in its ongoing case challenging the National Credit Union Administration’s final rule to expand credit union fields of membership far beyond the limitations imposed by Congress.
As Congress and the Trump administration continue negotiations over tax reform, they should address the tax-exempt status of the credit union industry, a prominent economist wrote in U.S. News and World Report today.