As the House begins debate on its tax reform bill, members will be prohibited from offering any amendments—including changes to the credit union tax exemption.

Voting 235 to 191, the House approved the rule for debate on the bill Wednesday afternoon, with a vote likely Thursday.

Following tradition for such contentious legislation, the bill will go to the House floor under a closed rule, which prohibits amendments from being offered. Debate on the bill was to begin Wednesday afternoon. The rule calls for four hours of debate.

Meanwhile, the Senate Finance Committee continued to slog through amendments to its tax reform bill Wednesday afternoon.

So far, no senators have signaled their intention to offer an amendment affecting the credit union tax exemption.

 

continue reading »