Bi-Partisan Support for Timber Tax Provisions Urged by 30 Members of Congress and more than 50 Forestry Organizations
FLA has been engaged in making the Committee of Ways and Means aware of the impact and importance of key timber tax provisions. Two letters have been sent to the House Ways and Means Committee; one from their piers in Congress and a second from the forestry community.
A letter spearheaded Reps. Benisheck (R-MI), Michaud (D-ME) and Sewell (D-AL) was singed by thirty members of Congress and sent to Chairman Camp and Ranking Member Levin urging support for key timber tax provisions of the Ways and Means Committee’s bipartisan Working Groups as they review and evaluate the tax code with an eye toward comprehensive tax reform. The letter specifically outlined three key timber tax provisions as critical for maintaining productive, healthy, working forests.
A follow-up letter was sent by the forestry community urging the Committee to consider, as Congress has long recognized, that timber is a long-term investment, decisions to invest in timber were made decades ago, and changing the tax treatment would significantly and negatively impact investments in working forests that contribute to economic growth and environmental quality.
The letter emphasized that the timber tax provisions have provided long-term, stable returns for the many individuals who directly or through pension funds rely on their forestland investment for retirement and other needs. At the same time, these timber tax provisions have well served the nation, consumers and manufacturers, forest owners and the environment.