Aug. 31, 2012 – House Ways and Means Committee Member Richard E. Neal, D-Mass., is the latest speaker confirmed for NAFCU’s 2012 Congressional Caucus, set for Sept. 11-14 in Washington.
The confirmation of Neal, who also serves as ranking member of the Subcommittee on Select Revenue Measures, assures that this year’s Caucus will include plenty of discussion about preserving credit unions’ tax exempt status. Neal has participated in several hearings this year on federal tax code reform. More hearings are set to follow on the topic, including a rescheduled joint hearing from the Senate Finance and House Ways and Means Committees sometime in the near future.
NAFCU continues to watch especially for any impact on the so-called "tax expenditures." The credit union exemption, by definition, is a tax expenditure under the tax code.
Credit unions are urged to meet with lawmakers during the current recess period, which concludes at the end of next week, to ensure they understand the value of the exemption to credit unions and their credit union member constituents. (For contact information, visit NAFCU's grassroots center.)
Attending this year’s Caucus to speak face-to-face with lawmakers about the tax exemption and other key issues is a vital way to ensure credit unions’ concerns are heard.
Joining Neal at Caucus is an impressive line-up of speakers, which includes House Assistant Democratic Leader James Clyburn, D-S.C., House Financial Services Committee Member Brad Sherman, D-Calif., Rep. Ed Royce, R-Calif., Rep. Jeb Hensarling, R-Texas, Sen. Bernie Sanders, I-Vt., Rep. Maxine Waters, D-Calif., Rep. Peter T. King, R-N.Y., Federal Housing Finance Agency Acting Director Edward DeMarco, Freddie Mac CEO Donald Layton, and political commentator Tucker Carlson.
NAFCU’s 2012 Congressional Caucus is open to members and non-members. For more information on the event or to register, go to www.nafcu.org/caucus.