Supercommittee Collapse Means No Targeting of CU Tax Exemption, For Now – Credit Union Times

While credit unions are often asking Congress to do something, when it comes to taxation no news is good news. The apparent inability of the House-Senate deficit reduction...

While credit unions are often asking Congress to do something, when it comes to taxation no news is good news.

The apparent inability of the House-Senate deficit reduction panel to agree on a plan means that at least for the time being the credit union tax exemption is safe.

Media reports indicate that the committee, which Congress created last summer during the negotiations leading to the raising of the debt ceiling, will conclude its business this week without issuing recommendations.

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