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House Tax and Spending Bill Continues Income Tax Carveout for Credit Unions

Summary by Tax Foundation
The House tax and spending bill leaves in place a long-standing provision that exempts credit unions from federal and state income tax, allowing them to compete unfairly with banks and, increasingly, to buy them.

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House Tax and Spending Bill Continues Income Tax Carveout for Credit Unions

The House tax and spending bill leaves in place a long-standing provision that exempts credit unions from federal and state income tax, allowing them to compete unfairly with banks and, increasingly, to buy them.

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Tax Foundation broke the news in on Thursday, June 5, 2025.
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