As the 114th Congress begins, we have new Chairs on the U.S. House Ways and Means and the U.S. Senate Finance committees. The ranking members are the same, although Sen. Wyden (D-OR) was chairman in the last Congress. While actual movement on tax reform remains unclear, there is considerable discussion about it in both chambers. We believe that an early letter to the new leaders reiterating our positions on the timber tax provisions was in order. A similar letter, as that below, was also sent to the chair and ranking member of the House Ways and Means Committee.
February 2, 2015
The Honorable Orrin Hatch
Chairman
Senate Finance Committee
219 Dirksen Senate Office Building
United States Senate
Washington, DC 20510
The Honorable Ron Wyden
Ranking Member
Senate Finance Committee
219 Dirksen Senate Office Building
Washington, DC 20510
United States Senate
Dear Chairman Hatch and Ranking Member Wyden:
As representatives of a broad and diverse group of forest landowners, forest products manufacturers and conservation and recreation partners, we write to express our best wishes as you develop tax policy and legislation in the 114th Congress.
As the House Ways and Means Committee considers comprehensive tax reform and fundamental changes to the tax code, we write to encourage the committee to retain the current tax treatment for timber, which works for trees, forestland owners—including the 22 million family forest owners across the country—wood products and paper manufacturing, fish and wildlife, and outdoor recreation. The timber provisions in the code benefit the economy by creating jobs, biomass energy, equity and financial returns for private landowners and investors, and provide public benefits from privately owned working forests, by helping to address the significant threat of conversion of private working forests.
Visit https://www.naylornetwork.com/wvf-nwl/articles/?aid=308043&issueID=40942 to view the full article online.