With Congress back in session and working on a budget reconciliation bill, the credit union system is intensifying its efforts to protect the federal tax exemption for credit unions.

Introducing the New Advocacy Resource Hub
The MD|DC Credit Union Association continues to meet with members of the Maryland, Delaware, and DC congressional delegations who continue to support for maintaining the current tax status of credit unions.

Nationally, the Don’t Tax My Credit Union (DTMCU) grassroots campaign, coordinated by America’s Credit Unions (ACU), has mobilized strong support, generating more than 500,000 messages to all 535 members of Congress.

To support those efforts, the Association has launched a new Advocacy Resource Hub which provides the tools, templates, and guidance needed for effective grassroots engagement. Once logged in, users will find customizable materials tailored for executives, board members, and staff to let Congress know that a tax on credit unions is a tax on members. If your credit union is comfortable mobilizing members, you will find member engagement resources on ACU’s DTMCU website.

Legislative Update
Meantime, here are the latest developments from Capitol Hill:

• Politico reports that the House Ways and Means Committee is making progress on its section of the bill but is waiting for other committees to finalize key provisions before advancing tax cut measures.
• Committee votes on proposed spending cuts are currently expected the week of May 5, though that timeline could be extended.
• Treasury Secretary Scott Bessent yesterday announced a target date of July 4 for passing the legislation. However, this may shift depending on when the federal borrowing limit must be raised, which has been anticipated to be sometime this summer.
• House Speaker Mike Johnson has outlined an ambitious schedule, pushing for a House vote by Memorial Day.