This week: Credit unions push priorities as Congress works in-district

This week, Congress is out and the NCUA Board will meet Thursday. While lawmakers work from their home districts and states, America’s Credit Unions, leagues, and credit unions continue to fight for credit union priorities.

Efforts to protect the credit union tax status are ongoing and have not slowed down. Last week, the House passed its budget resolution – following Senate passage – which sets the framework for tax reform discussions. There is nothing within the framework that directs lawmakers on the credit union tax status; it simply sets the parameters of tax and spending cuts that will be required by the framework.  

This moves Congress one step closer to passing comprehensive tax reform and spending cuts. The House is aiming to have its version of the package finalized by the end of May. While timing is fluid and can change quickly, with the budget resolution being finalized the House Ways & Means Committee is expected to consider the tax reform bill in the next month, with the full House voting on the bill before Memorial Day. This legislation is moving quickly. 

Now is the time to step up advocacy efforts to protect the credit union tax status. Credit unions must launch their grassroots advocacy and make sure members of Congress hear the voice of our nation's 142 million credit union members. Action items to engage with the campaign today can be found on the America’s Credit Unions website. 

In addition to tax efforts, America’s Credit Unions continues to advocate for several legislative priorities to protect, empower, and advance the credit union industry. See legislation the organization is engaged on and how it could impact credit unions here. 

Thursday, the NCUA Board will be briefed on the agency’s voluntary separation programs and the interagency rule providing temporary exemptions to Financial Institution Reform, Recovery, and Enforcement Act appraisal requirements in areas affected by California wildfires and straight-line winds. 

In addition, the America’s Credit Unions Small Credit Union Conference, happening in Spokane, Wash., kicked off Sunday and runs through tomorrow.