Banks, credit unions square off over tax policy

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A Senate panel on Thursday wrapped up three days of hearings on legislation that pits banks against credit unions over tax policy.

The state's banking industry is asking lawmakers to approve a bill that it says would put banks on equal footing with credit unions and the Farm Credit System, which don't pay state or federal income taxes.

The bill would allow banks to deduct interest income from business loans and single-family housing loans in rural areas of the state.

The industry argues the . . .

SSJ

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