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Don’t tax credit unions…or community banks, either

By R.J. Lehmann, R Street With the suggestion box now clamped shut for the Senate Finance Committee’s tax reform project, it bears pondering what the process is likely to mean for the future of credit unions’ tax exemption. Under the “blank slate” process laid out by Chairman Max Baucus, D-Mont., and Ranking Member Orrin Hatch,

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NEW: Ways And Means Working Group Tax Reform Report Delivered

WASHINGTON (5/6/13, UPDATED, 2:07 p.m. ET)–The credit union tax status is one of many issues discussed in the just-released report on tax policy reform created by 11 House Ways and Mean working groups and delivered to the Joint Committee on Taxation. The 550-plus page report does not contain any policy recommendations, but lists the pluses

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Sen. Finance Chair Backs CU Tax Status In MCUN Remarks

WASHINGTON (5/8/13)–“Credit unions’ tax exempt status is not going away, not on my watch,” Senate Finance Committee Chairman Max Baucus (D-Mont.) said in a recent message to Montana credit unions. “Over the years, folks in D.C. have tried to cut your tax exempt status, and I’ve gone to the mat to fight back,” he added.

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