The House Ways and Means Committee completed its markup of the tax portion of the budget reconciliation bill — and there were no changes to the credit union tax status. In fact, credit unions weren’t mentioned at all — a positive outcome in this context. After 18 hours of debate, the bill passed out of committee with a 26-19 vote and now heads to the House floor.

This success is a direct result of the strong advocacy work credit union leaders have done over the past several months — and over years of building relationships with lawmakers. Thank you for being part of that effort.

What’s Next:
The full House vote is expected before June. While changes to the bill on the floor are theoretically possible, they are unlikely. After that, the Senate will consider the budget reconciliation package, with the goal of passing tax-related legislation by August.

Take Action Now:
We must keep up the pressure. Contact your lawmakers and urge them to preserve the credit union tax exemption, and thank them for their support thus far.

Together, we can protect the future of credit unions and the communities we serve.