UCT In Action
"Making A Difference Together"

Tax Reform

As you may know, the US Senate has begun a tax reform effort. In late June, U.S. Sen. Max Baucus, D-Montana and chairman of the Senate Finance Committee, and Sen. Orrin Hatch, R-Utah and a ranking member of the committee, made a case to their Senate colleagues for “blank slate” tax reform – a plan to essentially scrap the current tax code and start from scratch.  Baucus and Hatch asked their colleagues to start with a blank slate and let them know by July 26 which deductions and exemptions should be put back in the code.

UCT, like all Fraternal Benefit Societies, is a tax exempt organization. Unless the Senate agrees that exemption should continue, that may no longer be the case. Volunteer efforts by members of Fraternals add $3.4 billion to the US economy, according to an economic study done at Georgetown University. If the tax exemption is eliminated, it will generate $50 million in additional tax revenue. It seems like a bad tradeoff to me.

If you agree that the Fraternal Tax exemption should stay in place, I would encourage you to write to your senators. If you would like to do so, here is a link that will make it easy. It takes just a few minutes, and you can let your senators know that you think Fraternals Matter.  Time is of the essence.  Do it today.




This entry was posted in Current Event, Featured, Fraternal Benefit Society by Joseph Hoffman. Bookmark the permalink.
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