Posted June 16th, 2017 No Comments
Rep. Bacon Voices Support for CUs

The Nebraska Credit Union League (League) hosted a roundtable discussion with Nebraska’s 2nd Congressional District Congressman Don Bacon during the League’s Annual Meeting and Conference.  Credit union advocates from the 2nd District explained that a “one-size fits all” approach when it comes to regulation does not work and has resulted in driving up costs for credit union members and consumers.  The discussion primarily focused on the credit union difference, health care costs, tax reform, merchant data breaches, the Dodd-Frank Act and the subsequent avalanche of regulations coming down from Washington brought on by the Financial Crisis in 2008.

During a discussion on the potential for tax reform, Congressman Bacon voiced his support for the credit union tax status and his overall support for the contributions that local credit unions make in the community.  The advocates explained that Congress provided credit unions with a federal tax exemption in the 1930’s based on their structure of being not-for-profit, member owned and cooperative financial institutions.

Following the roundtable, Congressman Bacon addressed the General Session during the Annual Meeting.  He welcomed the group to Omaha and provided insight into his perspectives since taking office in January.  Congressman Bacon serves on the House Agriculture Committee, Armed Services Committee, and Small Business Committee.  Prior to being elected to Congress in November of 2016, Congressman Bacon served nearly 30 years in the Air Force before retiring as a Brigadier General.

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Congressman Don Bacon discusses top issues with Nebraska credit union advocates in Omaha.

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