The Hardwood Federation produces a “D.C. Cheat Sheet” newsletter to keep the industry up-to-date on the latest news from Washington D.C. Check out the October 2nd edition below and sign up to receive your copy.
Administration Poised to Bailout Farmers: Treasury Secretary Scott Bessent made news this morning saying that the White House will announce farmer relief for retaliatory tariffs as soon as next Tuesday. Action on this front was expected from either the administration or Congress later this fall but was expedited as calls for aid, particularly from soybean farmers, have grown over the last few weeks. Few details are available although there has been talk about doing something in the credit space to ensure farmers have access to credit or using collected tariff revenues to offset the cost of aid.
The White House, USDA, and Treasury are holding cards close to their chest and should an announcement be made, it is unlikely many details will be provided as decisions regarding funding and eligibility will take time. The Hardwood Federation continues to voice the need to include hardwoods in any aid package.
Share Your Opinion with the White House: As noted above, the Trump Administration and Congress are actively discussing if and how to provide relief to agriculture sectors in light of declining markets and commodity practices. The Hardwood Federation is holding meetings weekly…if not daily…with elected and White House officials to express the importance of including the hardwood industry in any relief package. But hearing from individual company owners, executives, and employees as well is essential! Take a moment to communicate you concerns to the president, vice president, and your members of Congress and please add in a sentence or two to personalize the message. Details about how current trade policies are impacting your business specifically will increase the impact of these letters.
U.S. Government Shuts Down: At 12:01 on Tuesday, funding for large swaths of government operations lapsed as Congress failed to reach a consensus on a short-term Continuing Resolution to extend the existing CR past September 30. The Senate voted on two CRs yesterday, both of which failed to reach the 60-vote threshold to move forward in the upper chamber. At this point, Republican and Democrat members of Congress are firmly dug in on their positions and it appears that a shutdown will last at least a week and likely longer. Contingency plans submitted by federal agencies and departments included Reduction in Force provisions and we are watching development in that space closely, particularly for the U.S. Department of Agriculture, U.S. Forest Service, and other federal agencies and departments with which we work closely.
Access to Congress is a mixed bag with some offices staffed and able to meet while others are shuttered. The same is true of department staff. We remain hopeful that this funding lapse will be brief so that Congress and the administration may refocus their attention on policy priorities important to our sector and the country.
Source: Hardwood Federation