WASHINGTON—With new leadership in place in the House and in some cases in the Senate, NAFCU has sent House and Senate leaders the association’s 2023 priorities, sharing the impact credit unions have on local communities, consumers, and small businesses.
The letter follows House confirmation of Rep. Kevin McCarthy (R-CA) as speaker and the selection of Rep. Jason Smith (R-MO) as chair of the Ways and Means Committee by the Republican Steering Committee after a contested race.
NAFCU described both McCarthy and Smith as “credit union champions” who have supported several industry priorities. NAFCU president and CEO Dan Berger said the association looks forward to “ensuring credit unions continue to have a seat at the table in Washington so in turn they can grow and thrive.”
The Ways and Means Committee has jurisdiction over tax and trade issues, and Smith has indicated his priorities will be IRS oversight and extending provisions of the 2017 Tax Cuts and Jobs Act, which preserved the credit union tax exemption, NAFCU said.
Five Tenets
In his letter to congressional leadership, Berger outlined the five tenets guiding NAFCU’s advocacy – growth, technology and innovation, regulatory relief, fair market, and data protection – and legislative ways to achieve them.
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