Yesterday the U.S. House of Representatives authorized $310 billion in additional funding for the Paycheck Protection Program (PPP), the U.S. Treasury administered loan program designed to keep employees on small company payrolls, by a vote of 388-5-1. Initial funding of $350 billion, created as part of the $2 trillion rescue package passed last month, ran […]
Presented by EHS Support & Hosted by The Railway Tie Association The Railway Tie Association (RTA) and EHS Support have teamed to provide those in the Wood Industry, and its suppliers, with guidance on the implementation of an Infectious Disease Preparedness and Emergency Response Plan that can be used at all levels of an organization. […]
Breaking News from NHLA & the Hardwood Federation The CARES Act legislation recently passed by Congress provided critical assistance to businesses and manufacturers in the hardwood industry to help weather the financial strain of the COVID-19 pandemic. As a result of the CARES Act, the Paycheck Protection Program was made available to provide […]
IRS Relief Information The tax experts at our forest products community ally The American Forest and Paper Association (AF&PA) have shared the below information regarding relief for taxpayers claiming Net Operating Losses (NOLs). In the following links, please find an IRS press release, an IRS revenue procedure, and an IRS notice providing tax relief under the CARES […]
On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses. In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak. These programs include the Paycheck Protection Program, the EIDL Loan […]
TREASURY ISSUES GUIDANCE ON SMALL BUSINESS LOAN PROGRAM Last night the U.S. Treasury issued guidance for the Paycheck Protection Program (PPP) which provides $350 billion in loans for small businesses impacted by the Coronavirus. Small businesses and sole proprietorships can apply for loans through the PPP starting on April 3, while self-employed individuals and […]
Over the past few weeks, Congress has passed, and the President has signed, three pieces of legislation to address the medical and economic strains resulting from the Covid-19 (Coronavirus) pandemic. The first bill, signed March 3, provided $8.3 billion for health providers, disease testing and small-business loan subsidies. On March 18, a second relief package […]
*Update as of March 27, 2020, 3:45 PM CST: President Trump has signed the $2 trillion COVID-19 relief bill. Previous update as of March 27, 3030 3 PM CST: The Hardwood Federation has announced that the House of Representatives has joined the Senate and passed the Phase 3 “Coronavirus Aid, Relief, and Economic Security (CARES) […]
The Senate voted unanimously on Wednesday to approve a $2 trillion bill to provide relief to the economy, businesses, and workers that have been hurt by the COVID-19 pandemic. The House is expected to pass the bill by Friday and President Trump has announced he would sign the bill into law. This bill is in […]
The U.S. Department of Homeland Security and the U.S. Department of Labor have both said the forest products industry is an “essential critical infrastructure workforce in the nation’s response to the coronavirus pandemic.” These are allowed to operate during shutdowns. Most states are following the federal guidelines when ordering people to shelter in place. Here […]
National Hardwood Lumber Association
Post Office Box 34518
Memphis, TN 38184
(901) 377-1818
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