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 July 16th edition below and sign up to receive your copy.
Congress Supports Hardwood Federation Comments on Chinese Lumber Purchase Commitments: Thirty-One members of Congress signed a letter to US Trade Representative Jamieson Greer expressing support for comments submitted by the Hardwood Federation communicating the importance of including U.S. hardwood lumber in upcoming discussions with China. The Hardwood Federation worked with Congressional offices to draft the letter and secure signatures. Decreasing exports of lumber have severely impacted U.S. mill production and capacity demonstrating the vital need for the U.S. government to pressure China for purchase commitments. The Congressional letter was covered in several media outlets including Inside Trade, which is widely read by key D.C. policy makers and several wood products publications.
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Housing Act Becomes Law without Presidential Signature: The 21st Century ROAD (Renewing Opportunity in the American Dream) to Housing Act became law last Friday following bipartisan support in both the House (358-32) and Senate (85-5). Although the president canceled a bill signing ceremony following Congressional passage, the legislation did not need his signature to become law. Under Article 1 of the Constitution, once a bill is formally presented to the president, he has 10 days to sign or veto it. If there is no action taken in that time frame, the bill becomes law. That 10-day window for H.R. 6644 closed last Friday and the measure is now in statute.
The legislation is an amalgamation of several different measures aimed at boosting the housing market and making home ownership more affordable. Among its many provisions there is language that would incentivize changes in local governments’ zoning and land use policies, authorize new housing construction and rehabilitation grant programs, modify the Community Reinvestment Act and reduce federal environmental review requirements. The measure also includes modular and manufactured home provisions as well as language directing studies on barriers to small mortgage lending. The Hardwood Federation has been supportive of the legislation as it intends to spur much needed home building.
Source: Hardwood Federation