Beltway Happenings
February 28, 2006--Senate Majority Leader Bill Frist (R-TN) spoke at the Credit Union National Association's 2006 Governmental Affairs Conference.  Credit unions are concerned about efforts to tax them, as advocated by the banking industry.  According to the "Bank Attacks" section of the CUNA website, "The banking trade associations in Washington, and their affiliates throughout the states, have undertaken a centrally organized attack on credit unions, calling on both the federal government and many state governments to raise taxes on credit unions."  (The American Bankers Association's position is that it seeks "equal tax and regulatory treatment between banks and diversified, full-service credit unions.")  Frist made his position clear:

"...Let me just say right up front, make it very clear, as we'll talk about action with solutions, we, I on behalf of our legislative body, absolutely support the current law exemption for credit unions today.  [applause].  That tax exemption will be preserved.  I know you've heard it from Secretary Snow and you've heard it from the President of the United States, but I do want you to hear it from our branch of government..."

Senate Majority Leader Bill Frist
Credit Union National Association
Copyright © 2006  Eric M. Appleman/Democracy in Action