Controversial IRS Provision Pulled from House Bill

The controversial IRS data collection provisions is not currently included in House language, which is a huge win for the robust credit union advocacy effort. It is also important to note that though the language is not currently included there are a number of steps before the legislative language is complete and credit unions need to keep the pressure on Congress so this idea is not resurfaced as leadership  works to ensure the bill is fully funded. Senator Wyden’s team was part of a closed door meeting with Secretary Yellen and Congressional leadership this morning where the menu of pay for options were discussed. After that meeting Senate Democrats shared that most of the funding will likely be covered from the proposed tax increases, especially on large corporations.

Posted in Advocacy on the Move.