STATEMENT from America's Credit Unions on House Passing Budget Resolution

"As President Trump and Congress begin drafting the contents of a budget package in earnest, America's Credit Unions will continue to advocate for priorities that strengthen the financial well-being and create opportunities for working Americans and small businesses. One of the best ways to do that: Preserving the credit union industry's federal tax status. The economic benefits of the tax status are clear, with nearly $27.5 billion in direct benefits and $38.3 billion in total benefits to American families. Removing it would be a significant hit to our economy, losing $33 billion in income tax revenue, reducing GDP by $266 billion, and costing 822,000 jobs over 10 years. Credit unions are committed to investing in the 142 million people and communities they serve and we will make sure President Trump and lawmakers see how the industry supports their economic goals."
​- Jim Nussle, America's Credit Unions President/CEO

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