WASHINGTON–More than 100 community bankers representing the Independent Community Bankers of America met with President Donald Trump and other top administration officials at the White House yesterday to kick off the ICBA’s Capital Summit.
During their meeting here, the bankers have also identified the credit union tax exemption as another priority. Approximately 1,000 bankers are in town for the meeting.
In addition to the meeting with President Trump, this year’s ICBA Capital Summit will feature remarks from Treasury Secretary Steven Mnuchin and House Financial Services Committee Chairman Jeb Hensarling (R-TX). The 2017 ICBA Capital Summit is also being held in conjunction with ICBA’s Future of Banking Symposium, which will offer insights into the future of the rapidly changing community banking industry.
The ICBA said their legislative priorities include:
- Tiered and proportionate regulation under ICBA’s Plan for Prosperity regulatory relief platform, including the CLEAR Relief Act and the Financial CHOICE Act of 2017.
- Reauthorization for the National Flood Insurance Program to ensure its continued affordability and ready access to homeowners and business owners.
- A restructured, modernized and simplified tax code to spur economic growth and job creation.
- An “end to the credit union industry’s mission creep and unwarranted taxpayer-funded subsidies (valued at $27 billion).”
- The passage of a new farm bill that supports commodity prices, enhances USDA guaranteed-loan programs, and preserves the nation’s successful public-private crop insurance program.
- A halt to the Farm Credit System’s “use of significant tax and funding advantages to stray from its mission and expand into non-farm lending.”