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ImageWisconsin lags behind states defending tax exemption

 

Although Wisconsin Activists have made nearly 2,000 contacts to Congress in the last two weeks, we are still only 16.68% of the way to our 30,000 contact goal and are forcing other states to do most of the heavy lifting to protect credit unions' tax exemption, which could be eliminated along with tax reforms. Wisconsin currently ranks 22nd in total contacts to Congress, and Illinois alone has more than doubled the amount of contacts made here.

 

The top five states with the most contacts, including Ohio and Georia, average 42,000 contacts each.

 

Together, just three Wisconsin credit unions—Central City, Summit and UW Credit Unions—account for half of our current total, with 400 contacts each.

Tax battle grows more urgent

U.S. Senate leaders have asked Senators to provide to them a list of tax priorities by July 26, increasing the urgency for credit unions to flood their Senators' offices with the message, "Don't Tax My Credit Union!"

A draft of tax reform legislation could come at any time, and regardless of the likelihood of a bill passing during this session, it is critical that credit unions' tax status be protected as part of any draft legislation since that will be the point from which reform deliberations continue. A recent
 CUNA video explains more.

 

It is a crucial time to improve our grassroots performance as banks have stepped up their anti-credit union lobbying with a letter to Senators and talking points that CUNA refuted. The American Bankers Association also launched a national action alert urging bankers nationwide to contact Congress to ask for the elimination of credit unions' tax exemption. This is proof that bankers are extremely concerned about the potential of credit unions' grassroots impact, so we must push even harder to compete with their flood of emails to D.C.

 

The League also sent its own letter to our Congressional delegation but your advocacy is necessary to make it clear that the credit union tax exemption is a priority for Wisconsin's 2.4 million credit union members.

 

Take two minutes to protect the credit union tax exemption by helping Wisconsin reach our contacts goal. Please:

 

 

  • Share the link with your colleagues, friends and family.

 

 

  • Schedule in-district visits with your members of Congress during their summer recess.

 

Credit unions are competing to be heard with more than 400 other groups looking to protect their own tax status. An article in The Hilla D.C. publication—explained the lobbying frenzy.

 

Preserving the credit union tax status is our movement's number one priority because it protects the $8 billion in annual benefits that American consumers receive because of the income tax-exempt cooperative structure that allows credit unions to put the best interests of people ahead of profit.

 

Questions? Contact Sarah Wainscott at (608) 514-0086.


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