Removing Barriers Blog

Tax Reform as Reported by the Conference Committee on December 15
Posted December 18, 2017 by CUNA Advocacy

Updated:12/21/2017

Please visit Tax Reform as Reported by the Conference Committee for more information

On December 20, 2017, the Congress passed the House-Senate tax reform conference committee of the compromise “Tax Cuts and Jobs Act” (TCJA), which would cut taxes by roughly $1.5 trillion over ten years and would make significant changes to and simplify our nation’s tax laws.  The President is expected to sign the bill into law the first week of January 2018.

The compromise bill would not alter or eliminate the credit union federal income tax status in any way!  This is a huge victory for the credit union movement and an affirmation by the United States Congress of the value proposition of the credit union difference.  This was accomplished against the unified opposition and lobbying force of America’s banks and their $17 trillion in assets!