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News Now

Washington
Baucus confirmed as ambassador to China
WASHINGTON (2/7/14)--Sen. Max Baucus (D-Mont.) was confirmed to serve as the next U.S. ambassador to China by a 96-0 Thursday Senate vote.

Baucus, who has been a Senate member since 1978, was scheduled to retire after the 2014 mid-term elections.

It is widely expected that Sen. Ron Wyden (D-Ore.) will replace Baucus as chairman of the tax-writing Senate Finance Committee.

Baucus's departure from the committee will change little for credit unions, which must still make sure that lawmakers on all levels truly understand that a new tax on credit unions would be a tax on their 97 million members, Credit Union National Association Senior Vice President of Legislative Affairs Ryan Donovan said.

"The circumstances that have made tax reform necessary continue to exist, and we expect Congress to continue to try to make progress on tax reform," Donovan added.

CUNA continues to encourage credit unions and their members to use CUNA and state credit union league resources, social media sites including Facebook, and micro-video site Vine, to tell their legislators, "Don't Tax My Credit Union."

For more on the "Don't Tax My Credit Union" efforts, use the resource link.
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