WASHINGTON (9/20/13)--Credit unions by their very nature, says Rep. John Larson, are a key part of the communities they serve and that, in part, is why the Connecticut Democrat supports protecting the credit union tax status, Larson said in a public statement.
"As institutions owned by and for their members, credit unions stepped up in the aftermath of the financial crisis and throughout our economic recovery to help the communities they serve through challenging times.
"Credit unions are an important source of capital for our communities and that's why I have consistently supported protecting their tax-exempt status in the past and will continue to do so moving forward," Larson said in a statement sent to the Credit Union League of Connecticut.
Larson's support adds to the growing body of federal lawmakers who have publicly backed the credit union tax status as public policy debate centers on tax reform. A growing list of lawmakers--from diverse regions, from both on sides of the aisle, and including members of key tax-writing congressional committees--have weighed in to back credit unions in the debate.
The Credit Union National Association, the state credit union leagues, and credit unions have since May been running a massive social media advocacy campaign under the banner, "Don't Tax My Credit Union." The campaign uses Twitter, Facebook, as well as CUNA's own DontTaxMyCreditUnion.org websites--in Spanish and English--to generate tweets, Facebook posts and e-mails to lawmakers.
Overall, more than three million Twitter users potentially have been exposed to the #DontTaxMyCU campaign. In one day alone, the Sept. 10 "Don't Tax Tuesday" push around 4,800 tweets were specifically aimed at the Twitter accounts of members of Congress. That total was double the result seen during the first #DontTaxTuesday campaign held in July.
Use the resource link for more on CUNA's "Don't Tax My Credit Union" campaign.