Bill · S. 1964· Senate(119-S-1964)
Solid American Hardwood Tax Credit Act
- Introduced
- 6/5/2025
- Last activity
- 6/5/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Cindy Hyde-Smith
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, known as the ``Solid American Hardwood Tax Credit Act'', proposes changes to the Internal Revenue Code of 1986. It seeks to modify the energy efficient home improvement credit by adding a new credit for natural carbon sink expenditures. These expenditures involve specific wood products like flooring, paneling, or cabinetry made from deciduous trees grown and processed in the United States. The bill also extends the duration of certain credits through the year 2035. Finally, it includes a provision to terminate certain carbon capture equipment credits.
Yes· 3 of 10
Does this cut taxes for middle-income families?+3
The bill provides a new tax credit for homeowners making specific household improvement expenditures.
Is this likely to create jobs?+2
Increased demand for US-grown deciduous wood products may stimulate jobs in the domestic timber and woodworking sectors.
Would middle-income households be better off under this?+2
Homeowners can benefit from new tax credits for household improvements.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
New Tax Credit for Home Improvements: Taxpayers can receive a credit for expenditures made on natural carbon sinks, such as flooring, paneling, millwork, cabinetry doors, or window frames (Section 2, subsection a). This applies if the items are made of deciduous trees grown and processed in the United States and are installed in the taxpayer's principal residence (Section 2, subsection a, paragraph 2).
-
Extended Credit Duration: The bill extends the timeframe for certain credits, changing the expiration year from 2032 to 2035 (Section 2, subsection b).
Potential Negative Impacts for People
- Termination of Certain Carbon Capture Credits: The bill includes a provision that terminates specific carbon capture equipment credits for construction projects that begin after the act's enactment (Section 3, subsection a).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Reduces Middle Class Taxes+3Increases Job Creation+2Improves Economic Growth+1Improves Small Business Support+1
- Demographic And Interest Groups
- Good For Middle Class Households+2Good For Business Owners+1Good For High Income Households+1Good For Rural Residents+1
- Environment Energy And Infrastructure
- Reduces Carbon Emissions+2Improves Rural Development+1
- 6/5/2025
- Read twice and referred to the Committee on Finance.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.