In coordination with America’s Credit Unions and other state leagues, the Nebraska Credit Union League is calling on all credit unions to activate their team members, volunteers, and members to contact our members of Congress and tell them “Don’t tax my credit union”.
Republicans in Congress are working diligently on a tax bill, and President Trump has called for “one big beautiful bill”. The bill is likely to include several priorities of President Trump and the GOP in Congress including extending the 2017 Trump Tax Cuts and possibly eliminating tax on tips, over time and social security. The priority goals of cutting taxes, balancing the budget, and reducing the federal deficit come at a high cost and that means that Congress will be looking for offsets.
The banking lobby has long urged Congress to tax not-for-profit credit unions and some in Congress may be listening to that message. In recent days and weeks, the federal tax exemption of credit unions has been talked about openly in visits on Capitol Hill but also quietly in closed meetings among lawmakers and their staff.
Whether there is one big beautiful bill as President Trump has asked for, or whether there are several sizable bills, the provisions that a small group of Congressional negotiators settle on will most likely be the final product and voted on by the Congress. This is why America’s Credit Unions and the Nebraska Credit Union League are urging credit union’s to activate their teams, volunteers, and members to fight to protect the federal tax exemption.
Send an e-mail communication to your Congressman and Nebraska’s two U.S. Senators by visiting the Grassroots Action Center. There, you will be able to customize and send your own e-mail to your elected representatives in Congress. You can also visit the website Don’t Tax My Credit Union for more information and resources.
