Mon, Jun 24, 2013
Washington, District Of Columbia
John Bratsakis talks about CU tax exemption and the importance of Don't Tax My Credit Union. Check out the video here.
1) Through July 18 (two months into the push, Marylanders and DC residents have made 5,126 contacts to Capitol Hill and 406,730 contacts have been made nationwide is support of protecting the CU tax status.
2) Congress is being pushed by all industries to protect their tax exemptions, so it is critical that credit unions continue staying on the forefront of the tax reform debate. It is important that Members of Congress fully understand the importance of the credit union tax exemption, the credit union mission, and how the tax exemption allows CUs to fully serve the communities that these Members represent.
3) The Senate Finance Committee is looking at reforming the tax code from a "blank slate" approach, so it is vital that credit unions justify their exemption so that they see it as a critical to add to any new tax code that is drafted.
4) While we continue to hear from Members of Congress and their staff members that they do not want to tax credit unions, they also add that everything is on the table, thus it is critical that we continue to remind them of the good that comes from the exemption so that if there is a broad package drafted, Members see it is as vital for us to stay exempt.