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The House – and possibly the Senate – is expected today to vote on the agreed-upon tax reform legislation released Friday by House-Senate conference leaders. The credit union tax exemption, thanks to consistent advocacy by NAFCU and its members, is untouched in the final language.

NAFCU President and CEO Dan Berger and other members of NAFCU's legislative affairs team have been actively engaged on Capitol Hill and with the White House to ensure the credit union tax exemption was left alone. In August, the association met with Treasury Secretary Steven Mnuchin to discuss tax reform efforts, and Berger was invited on FOX Business to explain the importance of the exemption. The association has held numerous meetings with senators, representatives and administration officials throughout the year.

Last month, NAFCU launched a grassroots effort calling on member credit unions to defend the industry's tax-exempt status at the local level as some in the banking industry called for its elimination.

The revised tax legislation is expected to win final passage by tomorrow. NAFCU will keep members apprised of any developments.