Protecting credit union tax exemption status
DCUC engaged Congress on the credit union tax exemption status by sending a letter and questions to the Senate Committee on Finance ahead of today’s hearing, “The 2025 Tax Policy Debate and Tax Avoidance Strategies.”
The hearing included testimony from the Tax Foundation referencing a footnote from the report “Reining in America’s $3.3 Trillion Tax-Exempt Economy (Tax Foundation).”
Notable statements from the June 2024 report include:
“While there still may be a role in today’s economy for insurance-providing fraternal organizations, credit unions, and collegiate sports leagues, there is no longer a justification to exempt them from taxation.”
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