Baucus, Camp take tax talk to Memphis
Sept. 4, 2013 – Senate Finance Committee Chairman Max Baucus, D-Mont., and House Ways and Means Committee Chairman Dave Camp, R-Mich., will make the fourth stop of their tax reform road trip Sept. 9 in Memphis, Tenn.
This stop will begin with a “kitchen table conversation” at the Sullivan Family Farm in Oakland, Tenn. Next, the lawmakers will visit the FedEx Express World Hub in Memphis and hold a roundtable discussion with the company and their customers from the small business community.
Baucus and Camp have been busy this summer touring the country enlisting comments and suggestions from American businesses, large and small, on the tax code. They hope to bring new tax reform legislation to their colleagues this fall.
The “Max and Dave” tax reform road show began in Minnesota’s twin cities and next stopped in Pennsylvania and New Jersey. The latest visit was in California. NAFCU is monitoring all tax-reform discussions held on the road and in Washington as it works to keep focus on the importance of the credit union federal income tax exemption.
A NAFCU economic study released last year shows that eliminating the credit union tax exemption would result in the loss of 150,000 jobs a year over the next decade and a net loss of revenue to the federal government. The presence of the nation’s tax-exempt credit unions benefits all U.S. consumers to the tune of about $10 billion per year.
While lawmakers finish up their final week of recess before returning to Capitol Hill, NAFCU President and CEO B. Dan Berger is encouraging credit unions to reach out to them and ensure they know the value of credit unions’ tax exemption (visit the association's grassroots action center now). Credit unions will also carry this work out in person in Washington next week during NAFCU’s Congressional Caucus.
NAFCU's Congressional Caucus
NAFCU economic study of the CU tax exemption
Grassroots action center