Following the release of the House Ways and Means Committee tax bill entitled "Tax Cuts and Jobs Act," Credit Union National Association (CUNA) president/CEO Jim Nussle released a statement:
“We thank the House for taking this first step in needed tax reform, and like those who are pushing toward reform, CUNA, Leagues and credit unions are committed to building and supporting a strong middle class in this country. As of now, the credit union tax status remains unchanged in this bill and the bill looks good from a credit union perspective, but this is an ongoing process and change can happen anytime. CUNA will be thoroughly reviewing the bill and remains engaged with both chambers of Congress as this process continues, ensuring policymakers are fully aware of the credit union difference in the financial services marketplace and in the lives of our 110 million members.”