Tuesday, December 19, 2017

Op-Ed Calls for Ending Obsolete Tax Break for Large CUs

In an op-ed in The Daily Caller, David Williams, the President of the Taxpayers Protection Alliance, calls on Congress to end the obsolete tax break for large credit unions.

Williams writes that "the credit union industry today isn’t the mom and pop industry they portray themselves to be" ... but rather a "Washington special interest group — asking for taxpayer benefits at the expense of everyone else."

The op-ed points out that large credit unions are using their tax exemption to fund "bloated CEO salaries, questionable sponsorship deals, and even purchasing for-profit, private banks."

While the credit union tax exemption appears to be safe, there will be more opportunities in the coming years for Congress to address this obsolete tax exemption.

Read the op-ed.

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