NLBMDA continues to oppose tax hikes
The National Lumber and Building Material Dealers Association (NLBMDA) said that it continues to oppose tax hikes in the latest budget reconciliation bill.
According to the NLBMDA, new tax increases will harm small, family-owned businesses while hurting the creation of new jobs.
The NLBMDA has sent a letter to members of Congress and issued the following statement today:
Following the failure of President Biden’s $1.7 trillion Build Back Better Act proposal last year, Senate Majority Leader Chuck Schumer (D-NY), Sen. Joe Manchin (D-WV) and other Democratic members of the Senate have been in negotiations regarding a new path forward on a scaled-down budget reconciliation bill before the midterm election. The budget reconciliation process allows Democrats to bypass a Senate filibuster by Republicans and pass tax and spending legislation with a simple majority vote in each chamber of Congress.
While no new legislation is imminent at this moment, NLBMDA sent a letter today to Congressional Leadership and other key Senators reiterating its opposition to tax increases in any future budget reconciliation bill and highlighting other legislative priorities of the LBM industry.
- Oppose all tax increases on LBM dealers;
- Oppose provisions from the Protecting the Right to Organize (PRO) Act;
- Oppose unreasonable increases to OSHA fines;
- Oppose expansion of the Family Medical Leave Act (FMLA);
- Prioritize workforce development initiatives; and
- Prioritize the Low-Income Housing Tax Credit and affordable housing.
NLBMDA remains proactive in engaging Congress on the negative impact new tax increases would have on LBM dealers in this time of economic uncertainty and supply chain challenges. NLBMDA will keep members updated on any new budget reconciliation developments in Congress.