Awhile back I sent a letter to Melissa Hart (R-PA). While I agree with her on very little regarding her policies, she seems to agree with me on this one. Just because you didn’t vote for someone doesn’t mean you shouldn’t let them know how you feel about issues.
Thank you for contacting my office regarding the tax-exempt status of credit unions. As a member of the House Ways and Means Committee and, more importantly, as your representative in Washington , I appreciate your input on this issue.
I agree that as long as credit unions continue to provide financial services in a not-for-profit and in a cooperative manner, they should continue to be exempted from federal taxation. Because credit unions provide access to important lending and saving plans for its members, I have and will continue to support policies that advance the goals of credit unions.
I recently visited with a number of managers and presidents of credit unions serving the Western Pennsylvania . During this meeting they were able to explain to me the services being offered by local credit unions and the important role that they are playing in providing financial service products to the individuals in the area.
The information that I received during that meeting was especially insightful for the hearing that the Way & Means Committee held last month as we reviewed the current tax exempt status of credit unions. This hearing was part of a series of hearings that the Committee has held to review various tax exempt entities. While no legislation has been introduced to levy taxes on credit unions, the hearing was a good opportunity for members of the Committee to understand the impact of the tax exempt and the role that credit unions play in the economy.
As Congress continues to consider this and other important issues impacting credit unions, I will be sure to keep your concerns in mind.
Again, thank you for contacting me and, if I can be of further assistance, please do not hesitate to contact my office. I encourage you to visit my website at www.hart.house.gov to for an update on my work in Congress.Very truly yours,
Member of Congress