Capital Corner: The year-end promises drama

The DC year is getting close to the finish line…but the sheer size and scope of the unfinished business on Capitol Hill will dominate the proceedings from here on.

The National Defense Authorization Act (NDAA) is the major piece of legislation that DCUC is watching closely- While the House approved its version in September, Senate Democrats are aiming to bring defense policy legislation up for debate sometime this month. But the annual NDAA is still on hold as Democrats attempt to clinch a deal on the infrastructure and reconciliation packages. The Senate version of NDAA has been stuck in neutral since the Senate Armed Services Committee approved it in July.

Significantly, neither the House nor Senate versions contain any mention of the banker-backed provision that would give banks free leases on military bases.  DCUC and our credit union industry partners once again mounted a vigorous effort to maintain the current rules that exclude for-profit entities from this treatment.  A late addition to the House bill calls for a GAO study of access to military base financial services; while DCUC did not request the study and takes no position on its inclusion, we are confident that it will once again demonstrate the benefits of credit union presence on defense installations.


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