Tax Credits

The National Lumber and Building Material Dealers Association applauded Congress for approving a tax bill that contains provisions to stimulate the economy and provide extra depreciation and expensing, but booed the Senate and House for failing to pass other proposals that could have helped dealers. More

The Senate rejected a pair of amendments to the health care reform bill that would have repealed or altered an income tax reporting requirement that small-business groups have decried as an onerous burden. One of those organizations, the National Lumber and Building Material Dealers Association, expressed disappointment that the amendment to repeal failed to win passage. More

An "unprecedented" increase in commodity prices swamped the modest sales gains that Builders FirstSource recorded during the first quarter and led to a net loss of $31.4 million during the period, slightly deeper than the $30.6 million net loss in 2009's first quarter, BFS reported. More

Several House members today introduced legislation creating Home Star, a measure designed to spur employment by giving tax credits for energy retrofits of homes. More

Financial reports for publicly traded companies indicate some of the country's biggest--and biggest money-losing--building material businesses are moving back into the black, not because of their operations but thanks to the Internal Revenue Service. More

Scores of LBM dealers, distributors, and window and door manufacturers appealed in person on Capitol Hill for Congressional action in favor of home retrofitting incentives, against Democrats' health care proposals, and for permanent estate tax relief. Their visits followed a Louisiana Republican senator's warning that the Obama administration threatens small business and a political analyst's prediction that Democrats could lose up to 30 House seats and up to eight Senate seats in the November elections. More

LBM dealers will urge members of Congress to support home retrofitting incentives, fight Democrats' health care legislation and support permanent estate tax relief, according to talking points distributed by the National Lumber and Building Material Dealers Association in advance of its Spring Meeting and Legislative Conference. More

After going from bad to worse in 2009, there's comfort in forecasts that we'll go from bad to only slightly less bad in 2010. More