Tax credit bill would reward American hardwood use in homes through 2035
In committeeS. 1964Latest action
Sponsor: Cindy Hyde-Smith · Senator · MS
AIDecoded by AI · checked against the recordRead the official text
Official title: Solid American Hardwood Tax Credit Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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S. 1964 adds a home for American hardwood products and ends a stronger carbon capture tax credit.
35-second read · 4 questions answered below
What does this do?
S. 1964 would expand an existing home energy-efficiency to cover hardwood flooring, paneling, cabinetry, and window frames made from U.S.-grown deciduous trees. It would also extend the overall credit program, currently set to expire in 2032, out to 2035. Separately, it ends an increased tax credit for companies building carbon capture equipment after enactment.
Who does it affect?
Homeowners installing qualifying American hardwood products in their primary residence, the U.S. hardwood lumber industry, and energy and industrial companies planning carbon capture projects.
Why does it matter?
The change could lower tax bills for homeowners using domestic hardwood and boost demand for U.S.-grown wood, while making new carbon capture projects less financially attractive going forward.
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Where does it stand?
- IntroducedJun 5, 2025
- Senate committeeYou are here · Jun 5, 2025
- Senate vote
- House
- The president's desk
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Read twice and referred to the Committee on Finance.