The Hardwood Federation produces a “D.C. Cheat Sheet” publication to maintain the business up-to-date on the most recent information from Washington D.C. Take a look at the December seventh version under and enroll to obtain your copy.
Home Lawmakers Urge Finish-of-Yr Tax Repair
On November 29, a letter led by Rep. Rudy Yakym (R-IN) and signed by nearly 150 Home Republicans was despatched to Home Speaker Mike Johnson (R-LA) to induce motion by the tip of this yr on the expired and expiring enterprise tax advantages that had been approved by the Tax Cuts and Jobs Act of 2017. Not one of the signatories sits on the Home Methods and Means Committee and that was by design. Rep. Yakym desires to indicate management that there’s robust assist throughout the Republican Caucus for motion by yr’s finish on these key tax advantages. These advantages embody restoration of one hundred pc depreciation tools, the R&D Tax Credit score which lapsed in 2022, and restoring full enterprise curiosity deductions, identified in tax world as EBITDA.
Producers Oppose EPA’s Proposed Energy Plant Rule
In August, the Nationwide Affiliation of Producers (NAM) filed feedback with EPA advocating in opposition to a proposal that will successfully power present energy vegetation to undertake carbon seize expertise not but scaled for deployment onto the grid. Characterizing the proposal as “aspirational somewhat than pragmatic,” NAM estimates the compliance price over a ten-year interval to be $14 billion. Producers additionally level out that the 10-year transition to carbon expertise is unrealistic based mostly on the multi-year allowing course of that energy vegetation would face to meet Nationwide Environmental Coverage Act (NEPA) necessities.
Nationwide Protection Authorization Act on Deck
Though remaining passage of the Nationwide Protection Authorization Act stalled earlier this fall, federal lawmakers seem poised to cross a remaining package deal in the course of the run-up to the Christmas break, which formally kicks off on December 15. Final evening, Home and Senate negotiators launched textual content on a compromise invoice, which incorporates authorization of a seamless training curriculum and pilot program for sustainable building supplies, together with mass timber. The Hardwood Federation will hold you posted on remaining passage because the compromise invoice strikes ahead.
Supply: Hardwood Federation