ABA Chairman says it’s time to tax large CUs

first_img continue reading » The tax code shouldn’t pick winners and losers, and businesses performing the same service should face the same rules, ABA Chairman Ken Burgess wrote in a letter to the Wall Street Journal. The letter was in response to a Dec. 5 article highlighting the fact that credit unions were left out of the tax reform bill.“At a time when Congress is asking everyone from teachers to homeowners to give up tax breaks in the name of lowering rates, why is the trillion-dollar credit-union industry still getting a free ride?” wrote Burgess, chairman of FirstCapital Bank of Texas in Midland, Texas.Burgess added that today’s credit unions look nothing like those of the 1930s, when Congress first exempted credit unions from federal income tax and noted that there are now 282 credit unions with more than $1 billion in assets. 12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Kiwi pair survives 19 days lost in ‘Mines of Moria’ national park

first_imgHe said a helicopter flew within 50 meters at one point but failed to spot them, prompting the pair to light a fire to signal future searchers.The tactic paid off about a week later, when another chopper saw the column of smoke and found them.Reynolds said he and O’Connor, both experienced hikers, never gave up hope, although he admitted that at times during the ordeal it was difficult to remain optimistic.”It was a surreal experience, trying to keep positive and keep hope up,” he said.”Jess and I would wake up in the morning and say ‘if it’s not today [rescue], it’s tomorrow’, we were lifting each other and we’d make sure neither of us was going to break down.”He said one of the helicopter crew gave him a snack as they flew out of the wilderness, describing it as “the best chocolate bar I’ve ever had in my life”. The pair had only minor injuries suffered during falls as they desperately searched for water, with Reynolds twisting his ankle and O’Connor wrenching her back.Reynolds said they became lost in fog that lasted three days, and boiled water from “a little rocky puddle” to drink as their food supplies dwindled.”We were very lost at this point,” he told Radio New Zealand, saying they eventually decided to make camp and “wait out our injuries”.”It was 13 days with no food but the saving grace was that two minutes’ walk across the gully was a fresh mossy stream that was nice and clean for us to drink — that’s what kept up alive.” Two New Zealand hikers survived 19 days in a rugged national park home to the shooting location for the “Mines of Moria” in the Lord of the Rings films, drinking puddle water to stay alive, they said Thursday. Dion Reynolds and Jessica O’Connor, both 23, set off on a five-day camping trip in Kahurangi National Park on the South Island on May 8 but became disorientated in heavy fog.A military helicopter rescued them on Wednesday after a huge search operation in the area, which was the shooting location for Frodo and the Fellowship’s escape from the grim Mines of Moria in Peter Jackson’s blockbuster Lord of the Rings films.center_img Topics :last_img read more