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In a narrow 215-214 vote, the U.S. House of Representatives passed H.R.1, the “One, Big Beautiful Bill,” on Thursday, preserving the credit union tax status. This outcome is a significant win for our industry and a testament to the strength of credit union advocacy.
Our League will continue to monitor this issue closely and remain actively engaged with our partners at America’s Credit Unions as the bill moves to the U.S. Senate for consideration.
Maine is fortunate to have the full support of our congressional delegation in protecting the credit union tax status—an endorsement we do not take for granted. We will maintain engagement with both Senator Collins’ and Senator King’s offices until the Senate passes their version of the bill.
America’s Credit Unions is hosting an advocacy update next Wednesday, May 28 at 1:00 pm to discuss the latest developments. If your credit union would like to join, you can register here.