Berger talks Caucus, CU tax exemption in press
NAFCU President and CEO B. Dan Berger
Sept. 9, 2013 – NAFCU President and CEO B. Dan Berger focuses on the association’s Congressional Caucus and one of the main goals for the event – defending the credit union federal income tax exemption – in editorials in published today in Credit Union Journal and Credit Union Times.
“As advocates for the credit union industry walk through the halls of Congress and meet with members in person this week, it is important that the fight for credit union regulatory relief doesn’t end here,” Berger wrote in the Journal. “Credit unions serve 96 million members nationwide, but all of America benefits from their existence. Every member of Congress needs to understand and be continually reminded of this truth and their need to cut the red tape that bars credit unions from better serving Main Street America.”
In the Times, Berger emphasized the importance of fighting for the credit union tax exemption. “It’s not just about us and the banks,” he wrote. “It’s not even just about our member-owners – it’s about the economy as a whole. A year ago, NAFCU commissioned an independent study which showed that eliminating the credit union tax exemption would shrink the GDP, result in a net loss of revenue to the federal government and eliminate 150,000 jobs a year over the next decade.
“On the flip side, keeping the exemption benefits the economy as a whole: the cumulative benefit credit unions generate for the economy – non-credit union members included – is more than $10 billion a year.”
Caucus kicked off yesterday at the Mayflower Renaissance Hotel. In general sessions, which begin today, credit unions will hear directly from lawmakers and will have the chance to meet with them on Capitol Hill to discuss issues that matter most to the credit union industry.
Political analyst and columnist Paul Begala will give the keynote address today.
NAFCU Congressional Caucus
CU Journal article
CU Times article