CUNA experts are digging deep into the details of the massive tax reform package released last week by the House Ways and Means Committee and reviewing the proposal for any other provisions that may impact credit union operations.

CUNA head Jim Nussle says, “As promised, I’m keeping you apprised as Congress works on tax reform. My team and I poured through the House version of the bill that was introduced last week to assess its potential impact. While this legislation is the first step in a long process, it’s also the marker for where Congress is right now on this very important issue for credit unions and all Americans.”

The last time we saw a major tax code overhaul was in 1986. This means there’s a lot of opportunity for improvements, but there’s also room and time for Congress to consider everything in the tax code, including credit unions. CUNA will be sending updates on any substantive changes as the process moves through the House and when the Senate introduces its own bill.

Download CUNA’s focus summary now for a look at what the current version of the House bill means for credit union operations.