Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
PCUA monitoring state sales tax expansion proposal
HARRISBURG, Pa. (5/13/10)--The Pennsylvania Credit Union Association (PCUA) is monitoring Gov. Edward Rendell’s budget proposal to expand the state’s sales and use tax to include 74 categories of tax exemptions. So far, credit unions’ exemption is intact. Pennsylvania State Sens. Mike Stack and Larry Farnese, both democrats from Philadelphia, held a roundtable discussion about the proposal Tuesday in Philadelphia. Sens. Stack and Farnese opposed expanding the sales tax, said PCUA (Life is a Highway May 12). Several representatives from the business community voiced concerns about applying the sales tax on currently tax-exempt professional services. Such a tax, they said, would result in: double-taxing the consumer; driving low- and moderate-income individuals out of the legitimate banking system; effecting negative consequences on small businesses and start-up companies; and becoming detrimental to job preservation and creation. There was no mention of credit unions or a suggestion to look to them for a revenue source, PCUA said. Christine Seitz, PCUA director of political affairs and fundraising, attended the roundtable.


RSS print
News Now LiveWire
#creditunion affinity card programs make the grade for schools See #NewsNow http://t.co/TThZIvMRTO
10 hours ago
Home-price appreciation softens further in July #NewsNow #Market http://t.co/0MXVy9sby0
11 hours ago
.@ChartwayFCU charitable arm, the We Promise Foundation, has reached the $1M fundraising milestone in a single year for the first time
12 hours ago
.@mncreditunions' Mark Cummins shares CU difference with @KIMTNews3 http://t.co/gkarhZxDRF
13 hours ago
.@LeagueofSECUs' brand campaign reaches 80M consumers #NewsNow #System http://t.co/yKmdYyXN2v
14 hours ago