COLUMBUS, Ohio (2/7/13)--U.S. Rep. Jim Jordan (R-Ohio) gave a ringing endorsement of credit unions' tax exempt status at a recent Western Buckeye dinner in Lima, Ohio, according to the Ohio Credit Union League.
"It's important that we protect your tax status in the midst of the tax reform debate over the next few months," said Jordan, the leader of the conservative wing of the U.S. House of Representatives. "Credit unions are already taxed enough," he said.
"The government is fond of saying 'we need more of your revenue, and then we'll give it back to you,'" Jordan said. "But they almost never do. Washington has a spending problem, not a taxing problem. [Credit unions] are in good shape because your tax exemption has been there from the beginning," he said.
John Florian, league vice president of governmental affairs, attended the event on Jan. 30 and praised the congressman for his statement. "Rep. Jordan continues to grow in stature in Washington, and his opinion carries a lot of weight among fellow members of Congress. We are thrilled that he has taken such a strong and public stance on this critical issue," Florian said.
Jordan also announced he plans to visit credit unions in the northern section of his newly expanded 4th Congressional District in the coming months and said he looked forward to meeting with credit union officials during the Credit Union National Association's Governmental Affairs Conference Feb. 24-28 in Washington, D.C.
Preserving the credit union tax status is always a top priority for the Credit Union National Association. (See related News Now story: Ways and Means starts look at reforms with charitable deductions hearing.)