Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Pa. auditor clarifies proposed tax status changes
HARRISBURG, Pa. (9/3/09)--Pennsylvania Auditor General Jack Wagner Tuesday sent a letter to the Pennsylvania Credit Union Association (PCUA) responding to PCUA's concern about a proposal to tax non-profit entities as part of his state budget recommendations. In a letter to PCUA President/CEO Jim McCormack, Wagner clarified that while he recommended a review of tax credits, exemptions, and loopholes provided to select individuals and organizations, he did not mention any specific entities, including credit unions. "Nor did I dispute their value or suggest they do not focus on service to their members," he wrote (Life is a Highway Sept. 2). Wagner asked that his clarification be communicated with credit unions and expressed interest in meeting with McCormack soon. "We were very pleased to get this letter of clarification…recognizing the value that credit unions bring to Pennsylvania consumers," McCormack said. "We also look forward to meeting with the Auditor General and his staff to see how our organizations can work together for the benefit of Pennsylvanians." McCormack had sent Wagner a letter expressing strong opposition against the proposal to tax non-profit entities. The suggestion is one of seven recommendations Wagner has made at least twice to the governor and General Assembly to explore during the state's budget impasse (News Now Aug. 18). Pennsylvania entered its second month without a state budget on Tuesday, when the state's House and Senate conference committee resumed meetings after three weeks of suspended private talks. State government has operated on a "bridge" budget funding only day-to-day operations since Aug. 5. Christina Mihalik, PCUA vice president, governmental affairs, attended Tuesday's meeting, and PCUA staff is monitoring any budget talks for any impact on credit unions (Life is a Highway Sept. 2)
Other Resources

RSS print
News Now LiveWire
#creditunion affinity card programs make the grade for schools See #NewsNow http://t.co/TThZIvMRTO
4 hours ago
Home-price appreciation softens further in July #NewsNow #Market http://t.co/0MXVy9sby0
5 hours ago
.@ChartwayFCU charitable arm, the We Promise Foundation, has reached the $1M fundraising milestone in a single year for the first time
6 hours ago
.@mncreditunions' Mark Cummins shares CU difference with @KIMTNews3 http://t.co/gkarhZxDRF
8 hours ago
.@LeagueofSECUs' brand campaign reaches 80M consumers #NewsNow #System http://t.co/yKmdYyXN2v
8 hours ago