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House Tax Reform Bill Update – 4/16/18 – Noon

Note: As we get closer to the end of the 2018 Iowa Legislative Session, the speed at which bills are taken up will also increase. As a result, you will see more updates, more often, even multiple updates on the same day. We will do our best to keep you informed as your assistance is critical in removing harmful credit union language from the final bill.

Dear DuTrac Members and Employees:

The House Tax Reform Bill is expected to be taken up this week on the House floor. As soon as the date is determined, we will share more information as it is received.

We anticipate bankers are working to get a House member to offer an anti-credit union, pro-bank amendment to the House bill. It’s very possible that amendment could be identical to the Senate language, which raises credit union taxes and cuts bank taxes. Given the House rules at this point in the session, an amendment can be filed to a bill with very little notice. So, our credit union lobbying team will be talking with House members starting today, working to firm up support against any such amendment.

We ask that members and employees be prepared to engage House members if such an amendment is filed, knowing that there could be very little time (potentially an hour) to engage legislators from an email perspective. If/when an amendment is introduced that negatively impacts credit unions, members and employees will be notified that a harmful amendment has been introduced and urgent action is needed–it will provide recipients a link to quickly send a note of opposition on the amendment to their Representative. The House switchboard number (515-281-3221) will also be provided as another way to quickly connect with Representatives. More to come as the bill gets closer to debate.

In continuing our grassroots advocacy work on the House Reform Tax bill, credit union advocates at the Statehouse have identified target legislators in the House who will be key in voting down a tax increase on credit unions if there is an amendment on the House floor, which is very likely. Among those identified are Representatives Hein and Paustian, where DuTrac has a significant number of members in each of their districts.

So far they have only received 68 and 11 emails, respectively, from credit union members in the last 5 weeks compared to others who have received hundreds… we need to make an impact on these two Representatives this week and next as the House tax bill moves to the floor for a final vote.

That being said, the Iowa CU League (ICUL) continues its quest to engage credit unions’ membership with a large grassroots push in the House – “Click here” to post a message if you live in either Representative Hein or Paustain’s districts, with a message asking their Representative to vote “no” on any amendments made on the floor of the House attempting to increase taxes on credit unions.

Thank you for your ongoing and past support – we will continue to keep you updated as needed on the tax issue.

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