NEWS

The Ways and Means Committee overwhelmingly approved the proposed Tax Relief for American Families and Workers Act. The bipartisan bill would extend credits for research and development, the deduction of interest payments, and bonus depreciation designed to help businesses and increase economic growth. The bill also extends the child and low-income housing tax credits. Costs are offset by ending the COVID-era employee retention tax credit that is plagued by fraud.

Decorative Hardwoods Association (formerly HPVA) eNews Volume XVII, Issue I: DHA Insights | Wood Floor Business Recognizes DHA Challenge To Misleading Marketing | New Changes To EUDR | DOE: Wood Products Are A Carbon Sink | New Bill Would Provide $25 Million To Promote U.S. Hardwoods | U.S. Introduces Law To Fight Illegal Deforestation | Wood Trivia: Test Your Knowledge

What are the three most common hardwood trees in North America?

Answer: Bur oak, red oak, and sugar maple.

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Resource:

CamoTrading: 10 of the Most Common Hardwood Trees in North America

Bipartisan legislation, the Fostering Overseas Rule of Law and Environmentally Sound Trade Act, was reintroduced in December. The goal of the FOREST Act is to fight illegal deforestation by preventing commodities from illegally deforested land from being sold in the U.S. Earlier versions of the bill included timber, pulp, and paper; these were removed as they are covered under the Lacey Act.

New bipartisan legislation, supported by the Hardwood Federation, is designed to increase demand for hardwood products. If passed, the bill would authorize grants of $25 million over five years to support the hardwood industry and research into the consumer benefits of hardwoods.

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