The Hardwood Federation produces a “D.C. Cheat Sheet” e-newsletter to maintain the business up-to-date on the most recent information from Washington D.C. Take a look at the October twelfth version beneath and enroll to obtain your copy.
Home GOP Provides Nod to Rep. Scalise for Speaker, Battle Begins
With the Home GOP having cleared the primary hurdle to pick out a brand new speaker by giving Rep. Steve Scalise (R-LA) a thumbs up as the brand new Home chief, Rep. Scalise and his allies now start the battle to safe roughly 217 votes, relying on the variety of absentees, on a Home ground vote to shut the deal. Up to now, Home leaders haven’t scheduled a ground vote, signaling that Scalise has but to realize assurances that he’ll win assist from 217 members. On Wednesday, Home Republicans gathered on the Capitol to solid votes for his or her most popular candidate, delivering a 113-99 victory to Rep. Scalise (R-LA) over Rep. Jim Jordan (R-OH), the opposite main contender. Along with dealing with essential finances points, the Home election gained a brand new sense of urgency this week within the wake of the fear assaults on Israel on Saturday, the place lawmakers could ship a legislative response within the type of an support bundle.
Sen. Manchin Reintroduces Forest Administration Invoice
In late September, Senate Power and Pure Assets (SENR) Committee, Chairman Joe Manchin (D-WV) and Rating Member John Barrasso (R-WY) reintroduced the “Selling Efficient Forest Administration Act of 2023” (S. 2867), bipartisan laws that may cut back wildfire threat and enhance forest well being by utilizing current assets. The invoice directs the Nationwide Forest Service (NFS) and Bureau of Land Administration (BLM) to ascertain yearly acreage targets for mechanical thinning, mandating a scientific foundation for adjustments to definitions of previous development and mature forests and deal with shortages plaguing the logging workforce. Senate leaders have referred the invoice to the SENR the place a path ahead will not be recognized at the moment. To view a one-page abstract of the invoice, please click on right here.
Home Speaker Battle Delays Tax Debate
When the Home Methods and Means Committee handed a tax bundle on June 13, it created a beneficiant timeframe on the 2023 calendar for Home lawmakers to cross laws that serves as a car for a few of the hardwood business’s prime priorities. Sadly, the interior battle dividing the Home GOP has suspended significant ground exercise throughout essential legislative work weeks in October, delaying passage of key business tax provisions. These embrace full expensing of apparatus till 2027 and restoration of enterprise curiosity deductibility, recognized in accounting-world as Earnings Earlier than Curiosity, Depreciation and Amortization (EBITDA) till 2026. The Hardwood Federation lately signed a letter led by the Nationwide Affiliation of Producers urging Congress to cross these priorities.
Supply: Hardwood Federation