IRS Reporting Proposal
It’s a busy stretch on the advocacy front this month. We are still closely tracking and advocating for the removal of the IRS reporting provision found in the reconciliation bill currently being negotiated and debated in Congress. While there are rumors about potential changes to the dollar amount threshold for reporting, we still are working with CUNA and other Leagues to try and remove the provision entirely from the bill.
For those of you who have participated in our efforts, be it phone calls or emails or Zoom meetings: THANK YOU. Without your efforts in advocacy, we could not have even hoped to make this issue as hot button as its become. You can keep up the advocacy by working with CUNA’s Member Activation Program (MAP) to share information and engage your membership. Details on that program, including templates to reach out to your members and other tools can be found here. You will need to be logged into CUNA’s site to view the MAP Content.
Special Legislative Sessions in Nashville
Turning to the legislature in Nashville, this week marks the second extraordinary session of the 112th General Assembly. Lawmakers are meeting this week to approve around $780 million in incentives for the announced Ford Motor Company development at the Memphis Regional Megasite in West Tennessee. While the Tennessee League has no role to play in this particular deal, we’re busy using the time preparing for a likely impending third extraordinary session that will kick off next week related to Covid-19 matters. The Covid session debate will mostly fall around lawmakers curtailing the authority of county health departments from making public health rules, shifting those decisions to elected officials instead. There will also be discussion on employers abilities to set the conditions of employment for its employees, specifically in this case regarding whether an employer can require a Covid-19 vaccination as a condition of employment. Watch this space.
Tell Your Story!
Finally, with everything going on at the state and federal levels, we wanted to remind you that it’s always a great time to send us stories of the credit union difference using our Advancing Communities site. We have the greatest stories to tell and our lawmakers need to hear them! Share your story here.