{"id":5433,"date":"2024-11-15T12:03:06","date_gmt":"2024-11-15T17:03:06","guid":{"rendered":"https:\/\/www.ncultheaffiliate.com\/?p=5433"},"modified":"2024-11-15T12:03:06","modified_gmt":"2024-11-15T17:03:06","slug":"rep-tenney-of-ny-suggests-ways-means-hearing-on-cus","status":"publish","type":"post","link":"https:\/\/www.ncultheaffiliate.com\/?p=5433","title":{"rendered":"Rep. Tenney of NY Suggests Ways & Means Hearing on CUs"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.9.4″ _module_preset=”default” custom_padding=”0px|||||”][et_pb_row _builder_version=”4.9.4″ _module_preset=”default” custom_padding=”0px|||||”][et_pb_column type=”4_4″ _builder_version=”4.9.4″ _module_preset=”default”][et_pb_text _builder_version=”4.9.4″ _module_preset=”default”]<\/p>\n

During the American Bankers Association\u2019s Annual Conference, Rep. Claudia Tenney (R-NY) was asked about \u201ccredit unions purchasing banks\u201d and whether she supports a hearing before the Ways and Means Committee on credit unions. In response to the question, Rep. Tenney said that she thinks the Ways and Means Committee, of which she is a member, should hold a hearing on credit unions including their tax exemption and who qualifies for membership. She stated, \u201cPeople on Ways and Means need to see the disparity in taxes, the disparity in how you decide who\u2019s going to be a member of your credit union. Some of the rules I think are laxed. While I\u2019m not against competition, I do think we have to have fair competition.\u201d She went on to say that she would ask Chairman Jason Smith (R-MO) to hold such a hearing. The New York Credit Union Association and America\u2019s Credit Unions have sent letters to Rep. Tenney in response to her comments and are planning to meet with her office.<\/p>\n

In 2025, the 2017 Trump tax cuts that passed by Congress and signed by President Trump is set to expire. Now that republicans appear to have a government trifecta, extending the Trump tax cuts and looking at tax reform will likely be a high priority next year. \u201cAnytime tax reform is on the table, credit unions should anticipate the possibility of a tax battle,\u201d said Brandon Luetkenhaus, chief advocacy office of the Nebraska Credit Union League. \u201cIt\u2019s going to be important for Congress to hear how credit unions are serving their members and the tremendous impact credit unions are having on the financial lives of their constituents and credit union members\u201d, said Luetkenhaus. Congressman Adrian Smith (R-NE-CD3) serves on the Ways and Means Committee. \u201cThe League and credit union advocates have and continue to communicate with him and his office that credit unions are federally tax exempt because of their not-for-profit, cooperative structure and they earn that exemption through their service to members,\u201d said Luetkenhaus.\u00a0 \u00a0\u00a0\u00a0\u00a0<\/p>\n

League & Credit Union Advocates visit with Rep. Adrian Smith during <\/em>
Hike the Hill in September.<\/em>\"\"<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n ","protected":false},"excerpt":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.9.4″ _module_preset=”default” custom_padding=”0px|||||”][et_pb_row _builder_version=”4.9.4″ _module_preset=”default” custom_padding=”0px|||||”][et_pb_column type=”4_4″ _builder_version=”4.9.4″ _module_preset=”default”][et_pb_text _builder_version=”4.9.4″ _module_preset=”default”] During the American Bankers Association\u2019s Annual Conference, Rep. Claudia Tenney (R-NY) was asked about \u201ccredit unions purchasing banks\u201d and whether she supports a hearing before the Ways and Means Committee on credit unions. In response to the question, Rep. Tenney said that […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/5433"}],"collection":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5433"}],"version-history":[{"count":0,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=\/wp\/v2\/posts\/5433\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ncultheaffiliate.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}