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News Now

Washington
Rep. Holt, CU tax-status supporter, to retire this year
WASHINGTON (2/19/14)--Credit union tax-status supporter Rep. Rush Holt (D-N.J.) will not run for reelection this year.

The congressman, who has held his seat since 1999, said he made his decision to retire from the U.S. House for both personal and professional reasons. The legislator entered his name in a Senate special election primary last year. That Senate seat was eventually won by fellow Democrat Cory Booker (D-N.J.).

Holt last year spoke in favor of the continuation of the federal tax exemption for the nation's credit unions.

"He always has and will continue to support the credit union tax exemption because credit unions provide needed and valued services in our local communities," his staff said in a response to a New Jersey Credit Union League survey.


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