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Abstract: 

In Financial Institutions: Issues Regarding the Tax-Exempt Status of Credit Unions (“Credit Union Report”),13 the Government Accountability Office considered whether a “level playing field” should be created by introducing taxation of credit unions, which now compete more directly with banks. Estimated revenues from such a change range from $1.2 to $1.6 billion per year. Representatives of credit unions, however, argue that these institutions remain distinct, organizationally and operationally, from other financial institutions and taxing them would impair their capital levels.

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