WASHINGTON — The Congressional Budget Office's list of budget and revenue options now includes taxing large CUs as thrift institutions.
Processing Content
The option was listed as a discussion item — not a recommendation — in the CBO's budget options presented to the House-Senate Budget Conference Committee on Wednesday.
Credit Union National Association Senior Vice President of Legislative Affairs Ryan Donovan said the move should not surprise the community, pointing out that taxing credit unions was mentioned as an option in 2005, 2007 and 2009 versions of the biennial report.
Donovan urged credit unions to stay focused on the budget process and how it could impact tax reform.
