Housing aid and tax credits would favor U.S. wood products

State housing agencies could compete for grants to fund repayable housing aid. Aid would support building or buying single-family homes for households earning no more than 250% of the area's median income. Homes must use domestic lumber for all structural wood framing and domestic wood for other parts as far as practical. Home prices could not exceed the area's median sales price. Aid must carry a legal duty to repay, and grants could wait until enough money is available.

Businesses could claim a tax credit for qualifying buildings using mass timber. Buildings must use mass timber for at least 65% of their load-bearing parts or store at least 100 metric tons of carbon dioxide in those wood parts. Mass timber must be made from solid wood pieces formed into large structural pieces under controlled conditions in the United States or a U.S. possession. Certain foreign businesses and businesses influenced by foreign interests would be excluded. Rules would reduce the credit for tax-exempt bond financing. The credit would apply to buildings put into use in tax years beginning after December 31, 2026.

Federal agencies would have to buy covered wood and paper products from domestic sources. The requirement would cover wood, pulp, paper, and products made from them, including furniture. Timber must be harvested and processed entirely in the United States. Finished goods must also be fully processed, assembled, and treated in the United States, ready for sale or use.

EPA would set the national fine particle air pollution limit at 12 micrograms per cubic meter. The standard would cover PM2.5, meaning fine particles in outdoor air. EPA would have to publish the revised rule within 90 days after the bill becomes law.

U.S. officials would require extra import checks, chemical disclosures, and conditional tariffs on EU goods. Tariffs would cover imports from EU countries. Extra inspections would cover every entry containing wood products, including paper and wood-look vinyl. Tariffs would be required if the EU applies deforestation rules to U.S. products or imposes stricter wood-chip entry rules than for other U.S. wood products. Imported products marketed as wood substitutes must disclose all chemicals used in manufacturing to buyers.