Democratic Lawmakers Cool ToBankers’ Advances

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BOSTON - (07/29/04) – A bid by the banking lobby toconvince the Democrats to repudiate Presidential nominee JohnKerry’s support for the credit union tax exemption faces longodds, according to observers at the Democratic National Convention.Fred Becker, president of NAFCU, reported that Iowa Gov. TomVilsack, chairman of the Democratic Convention’s PlatformCommittee, looked askance at the possibility. Vilsack, whose statejust rebuffed a credit union tax bid by the bankers, told Beckerduring a Democratic Leadership Council luncheon, that he thoughtthe banks were so profitable it was unlikely they will get anysupport for the effort to tax credit unions. The American BankersAssociation said it is trying to get both the Kerry and Bushcampaigns to repudiate letters supporting the tax exemption sent toboth CUNA and NAFCU.

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