Here’s how the stimulus act can impact your LBM business

economic stimulus

The National Association of Home Builders has summarized the a $2.2 trillion economic stimulus package that was approved by the U.S. Senate shortly before midnight on March 25. The bill now goes to the House for approval and President Trump is expected to sign it immediately.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes several provisions to help small businesses and those engaged in the residential construction sector, NAHB notes, from loans to tax credits, and more. See the full story at the NAHBNow blog.

The National Lumber and Building Material Dealers Association applauded the Senate’s passage of the bill.

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“NLBMDA applauds the Senate for taking this important step to stabilize the U.S. economy and provide relief to American businesses and workers,” said Jonathan Paine, NLBMDA president & CEO. “In particular, we are pleased that the Senate took our recommendations on loans for small businesses and the qualified improvement property fix, which NLBMDA members have been pushing Congress for. This speaks to the strength of NLBMDA’s voice in Washington and the influence the LBM industry has. Our work is not yet done, and we will continue to work on behalf of the industry for important economic solutions to ensure dealers, workers, and all in their supply chain can safely and effectively prevail.”

NLBMDA is continuing to engage with Congress and other industry stakeholders as this legislation now moves to the House of Representatives.

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