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For Immediate Release
December 20, 2017
ABA Media Contact: Blair Bernstein
(202) 663-5468
Follow us on Twitter: @ABABankers​

ABA Applauds Congress for Passing Comprehensive Tax Reform

By Rob Nichols, ABA president and CEO

“Congress made history today by giving final approval to the most significant changes to the nation’s tax code in more than three decades. We commend Speaker Ryan, Leader McConnell, Chairman Brady, Chairman Hatch, and members of the House and Senate for this significant achievement.

“The changes in this bill, particularly the reduction in business tax rates, will help grow the economy and create jobs, which will benefit all Americans. Thanks to this legislation, America’s banks will get to expand their role as the lifeblood of the economy by increasing financial services, investing in new and more convenient technologies, and opening more doors of opportunity for their customers.  

“While we wish this legislation did more to end the unfair, unnecessary and outdated tax advantages enjoyed by credit unions and ​the Farm Credit System, we still believe it will grow the economy, create jobs, and help our members better serve their communities. We are proud to support the bill and look forward to President Trump signing this historic legislation into law.”

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​The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, midsize, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend more than $9 trillion in loans.​