Debt debate could speed tax reform: Onsite coverage

by. Nicholas Ballasy

WASHINGTON, DC — Optimism about saving the tax exemption was in the air at CUNA’s “Don’t Tax My Credit Union” event at the Credit Union House the trade group held Wednesday in conjunction with its national online rally.

CUNA is working to garner support for its no tax message from the across the nation, hoping to get the attention of Congress. The public can write their members of Congress on the campaign’s website, which CUNA said has already recorded more than 1 million contacts.

As the battle over the federal budget continues in Congress amid a government shutdown, the deadline for raising the nation’s debt limit is fast approaching. CUNA told Credit Union Times that the debt ceiling debate could expedite tax reform.

“It’s going to be interesting to see how the government shutdown is resolved and when we get into the debt ceiling, if the House, as expected, includes tax instructions in that debt ceiling, there’s a possibility that there will be expedited consideration of tax reform and that could provide us some momentum to get things done,” said Ryan Donovan, CUNA’s senior vice president of legislative affairs.

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