WASHINGTON–Both credit union trade groups have been actively working Congress on the National Defense Authorization Act (NDAA), the annual defense bill of nearly $1 trillion in military spending, to ensure a provision providing banks with access to military bases is removed. But those efforts may become moot as President Trump is threatening to veto the bill.
The president wants repeal of a federal law known as Section 230, which provides legal protections for various social media platforms for content that is published.
“Section 230, which is a liability shielding gift from the U.S. to ‘Big Tech’ (the only companies in America that have it — corporate welfare!), is a serious threat to our National Security & Election Integrity,” Trump said in a tweet.
It isn’t the first time the president has threatened a veto. He had earlier said he would veto the legislation over a provision that would require the Pentagon to change the names of 10 military installations named after Confederate military officers.
The Washington Post quoted Sen. James M. Inhofe (R-OK), the chairman of the Senate Armed Services Committee, as saying Senate Majority Leader Mitch McConnell (R-KY) has a policy against putting bills on the floor for a vote when they have a veto threat.
Trade is Proposed
But the Post reported some Republicans in recent days have suggested a trade: Reforming Section 230 in exchange for the base-name changes that Democrats seek, according to a person familiar with the matter, who requested anonymity to describe the private conversations. Democrats largely have balked at the idea, the Post reported.
Credit unions have in the past successfully fought to have the provision providing banks with access to military bases removed from the legislation. The NDAA is currently in conference committee where differences between the House and Senate versions of the bill are being hammered out. The Senate version includes language granting banks the lease access; the House version does not.