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House tax reform in limbo for 2014

Politico, a leading newspaper that covers Capitol Hill, is reporting that the House does not feel comfortable pushing tax reform for the near future. Rep. Dave Camp (R-MI), chairman of the Ways and Means Committee, has already said there will be no tax reform bill in 2013 and now 2014 looks shaky.

A spokesperson for House Speaker John Boehner (R-OH) says that Republicans are still committed to tax reform. However the article states that Rep. Camp's three-year quest to overhaul the tax code ran into one roadblock - Republicans are not ready. Anything can happen in Washington and it is still possible a House tax bill could be introduced next year. Sen. Max Baucus (D-MT) has already released some tax reform language, but none of it pertains to credit unions.

Credit unions should continue to keep tax reform on the front burner. With the Senate moving ahead, tax reform will still be a major issue in 2014. You can read a longer view of the House's stance on tax reform by visiting Politico's website.