Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
The U.S. Court of Appeals restored NCUA lawsuit v. Barclays Capital that charged misrepresenting quality of $550M IN RMBS. See News Now Wed.
47 minutes ago
Registration is now open for the online livestreaming of @TheNCUA March 19 open board meeting. http://t.co/yOuqdXHlxj
5 hours ago
Registration is now open for online viewing of @TheNCUA's March 19 board meeting. https://t.co/mMZoXSFjMe
5 hours ago
.@CFPB Director Richard Cordray's testimony that he will deliver before the #HFSC this afternoon. http://t.co/NA1aEOPAeh
6 hours ago
Consumer spending flatlines, savings ramp up #Market #NewsNow http://t.co/94kPuBpMRK
7 hours ago