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For the second consecutive day, NAFCU lobbyists met with key offices to help set the record straight on issues related to the credit union tax exemption. As part of this effort, NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt and other senior staff have met with both Senate Finance Committee staff and Senate Finance Committee Chairman Orrin Hatch's personal staff on tax issues.

Yesterday's meetings came after an attack on the credit union tax exemption from the National Taxpayers Union and other tax associations. As part of that response, NAFCU Vice President of Legislative Affairs Brad Thaler also sent a letter to Hatch and members of the Senate Finance Committee to debunk the attack and further detail the economic benefits of the credit union tax exemption. 

NAFCU has aggressively defended credit unions against such attacks, highlighting the structural differences between credit unions and banks and the billions of dollars in economic benefits credit unions' tax status provides the U.S. economy.

On Tuesday, Hatch, R-Utah, requested that the IRS require certain credit unions to fill out Form 990 information returns. In addition to meeting with key Senate staff, NAFCU staff talked to senior IRS officials and followed-up that effort with a letter to the IRS to communicate credit unions' concerns.

NAFCU remains engaged on Capitol Hill and with the IRS and will continue to defend credit unions against attacks on the industry's tax exemption.