Title : CUs Lobby Congress, Avoid Paying DC Hotel Occupancy Tax
CUs Lobby Congress, Avoid Paying DC Hotel Occupancy Tax
The Credit Union National Association's Government Affairs Conference (GAC) kicked off on Sunday. The GAC runs from February 21 thru February 25.It is estimated that nearly 5,000 individuals will attend the GAC.
Credit union officials from around the country are descending on Washington, D.C. to lobby Congress about preserving the credit union industry's tax exemption, which is estimated to cost almost $27 billion over the next decade, and for greater powers, such as expanded business lending authority.
In addition, officials from federal credit unions attending the GAC are exempt from state and local taxes assessed to room charges, as long as the final payment is made by a federal credit union-issued check, share draft or credit card.
The hotel occupancy tax rate in Washington, D.C. is 14.5 percent. The price for a room per night at official GAC hotels ranges from a low of $265 to a high of $329. This means that each night the District of Columbia could lose between $38.43 and $47.71 in occupancy tax revenue per room.
It is outrageous that officials from federal credit unions can come to Washington to lobby Congress about preserving their tax exemption, while avoiding paying local hotel taxes.
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