The dust has not even settled on Chairman Dave Camp’s tax reform proposal, which left credit unions’ tax status untouched, but the bank trades are wasting no time in attacking the plan for not including taxation of credit unions. This week the
American Bankers Association (ABA) and the
Independent Community Bankers of America (ICBA) issued a
joint letter to Chairman Camp, copied to all House Ways and Means Committee members, urging him to reconsider taxing credit unions.
These tired attacks deserve a response, therefore CUNA is launching “Thank You Thursday” this Thursday, March 13. Similar to the successful “Don’t Tax Tuesday” campaigns, this effort will make use of social media to mobilize grassroots, this time to thank members of the House Ways & Means Committee for their exclusion of credit unions from new taxes.
Starting Thursday, the
Tweet Congress link on the
Don't Tax website will populate pre-drafted tweets including the handles of Chairman Camp, Ranking Member Sandy Levin, and a third handle that will rotate through the names of the other members of the House Ways & Means Committee.
Credit unions exclusion from Chairman Camp’s plan is a significant victory in a key battle, but the war wages on. It is important at this juncture to not let the Ways & Means Committees’ commitment to protecting the credit union tax status go unrecognized and unheralded, particularly as they hear complaints from bank lobbyists.