WASHINGTON—Congress is back in session and work on the Big Beautiful Bill (H.R.1) begins again, and the Defense Credit Union Council and America’s Credit Unions are closely watching developments.
“Obviously, the passage of the Big Beautiful Bill in the House without any changes to the credit union tax status was exciting to see, but that process now starts all over again as the Senate takes up its version of the bill,” said DCUC Chief Advocacy Officer Jason Stverak. “The Senate gets its chance to craft its own legislation—it doesn't just rubber stamp what the House does, and vice versa.”
Stverak added that the House and Senate have been in discussions about their differences regarding H.R. 1.
“We just have to make sure that as an industry credit unions are continuing to make their case to members of the Senate as they advance and debate their version of the legislation—it’s not just game over with the successful passage in the House,” Stverak said. “DCUC looks forward to continuing our education of every member of the Senate on the incredible value that credit unions provide. Monday morning we reached out to every member of the Senate Finance committee.”
ACU President and CEO Jim Nussle said it’s not certain whether the Senate will start over with its budget bill or take the House version and try and improve or adjust it.
“This work will take place partially in (Senate) committees and partially with the (Senate) leadership. We’re monitoring this very carefully,” Nussle said.