WASHINGTON–There’s déjà vu, and then there’s déjà vu déjà vu when it comes to many issues in Washington, as credit union advocates are once again watching progress on bills to fund the federal government.
Despite opposition from the flanks of both parties, a deal has reportedly been reached between Democrats and Republicans to keep the lights on at the federal government.
“We all know there has been a deal that has been announced,” said America’s Credit Unions’ Jason Stverak. “We’ll have to see whether or not the (continuing resolution) will be approved by both the House and the Senate.”
The latest short-term efforts involve deals to keep the government open through early March.
“America’s Credit Unions’ advocacy team is continually monitoring the (proposed resolutions) to make sure there aren’t any issues that may impact credit unions moving ahead,” said Stverak.
ACU’s Greg Mesack added that attention is also being paid to a proposed tax package that would expand the child tax credit while cracking down on employee retention tax credits, which are used by some credit unions. The trade group will be monitoring the text of that package, as well, Mesack said, to ensure credit unions can retain any benefits they already have.
Hearing Being Watched
Separately, America’s Credit Unions said it will be paying attention to a House Small Business Committee hearing on Thursday titled “Unleashing Main Street’s Potential: Examining Avenues to Capital Access.”
Mesack noted credit unions continue to advocate for the lifting of the small member business loan cap on credit unions.
CUs Attend Treasury Event
Credit union representatives were on hand for an event hosted by the Treasury department related to justice-impacted individuals and their access to financial services.
“America's credit unions and our members have been long stalwarts in trying to serve these populations and help them reintegrate back into society,” said Stverak.