Trump tax plan poses no threat to credit unions – yet

President Trump’s tax proposal, released Wednesday, so far poses no direct threat to the tax exemption that benefits credit unions.

But the principles the administration released are general and merely represent the starting point for a debate over tax policy.

And as Congress searches for ways to offset tax cuts, it may look to so-called tax expenditures—provisions of the tax law that benefit specific industries, including credit unions.

The Trump principles does include a proposal to “eliminate tax breaks for special interests,” but provide no specific proposals to do so.

And the administration said that throughout the month of May, administration officials will meet with stakeholders and will continue to meet with members of Congress to craft a tax plan that can pass both chambers.


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