ABMA Priorities Secure Support in Farm Bill Extension

On Monday, outgoing Senate Agriculture, Nutrition and Forestry Committee Chair Debbie Stabenow (D-Mich.) unveiled a nearly 1,500-page bill reauthorizing the Farm Bill. The legislation, titled the Rural Prosperity and Food Security Act, includes several ABMA priorities, such as $50 million in mandatory funding for fiscal year 2025 for the Community Wood Grant program. It also includes favorable language on Wood Innovation Grants and forest management provisions.

However, the effort is seen as too little, too late. Ranking Member John Boozman (R-Ark.) announced on social media that he viewed the proposal as overly partisan and released too late for meaningful action. The lame-duck session of Congress has only a few weeks remaining before the 118th Congress is officially gaveled out.

ABMA met with House and Senate committee staff who signaled that action on a Farm Bill this year is unlikely. Extension measures are being prepared to move expiring authorities into 2025, though the duration of the extension remains uncertain.

Ranking Member Boozman will serve as the incoming chair of the Senate Agriculture Committee in January, while Sen. Amy Klobuchar (D-Minn.) will take the role of ranking member. Both lawmakers strongly support the wood building products sector and its policy agenda. In the House, Chairman Glenn “GT” Thompson (R-Pa.) will continue as chair next year, though the ranking member position may change. Rep. David Scott (D-Ga.), the current ranking member, faces a challenge from Rep. Jim Costa (D-Calif.), amid questions about Scott’s age (79) and capacity to lead the panel.

While progress on Farm Bill reauthorization was made during the 118th Congress, final enactment will likely fall to the next Congress.

Credit Card Competition Act Faces Uphill Battle

This week, the Senate Judiciary Committee held a hearing titled Breaking the Visa-Mastercard Duopoly: Bringing Competition and Lower Fees to the Credit Card System. Witnesses included representatives from MasterCard and Visa, the National Association of Convenience Stores, a law professor from Notre Dame, and a bookstore owner.

Sen. Roger Marshall (R-Kan.), the bill’s lead sponsor, urged his colleagues to choose Main Street businesses over “Wall Street giants” in his opening statement. He argued that swipe fees are inflation multipliers, costing the average American family $1,100 annually.

In their testimony, banks extolled the current system’s virtues and opposed the Credit Card Competition Act (CCCA). They argued that the bill would compromise credit card security and require a significant overhaul of credit infrastructure. Unlike debit cards, credit card systems are not designed to accommodate multiple networks. The financial sector claimed the proposed changes would not reduce costs and cited evidence from the Durbin Amendment, which applied to debit cards. After that measure’s passage, only 1% of merchants lowered prices, while 22% raised them.

The battle over the CCCA underscores the difficulty of passing legislation when well-funded opposition exists. Given the resources Visa, MasterCard, and others in the banking industry are deploying, the CCCA is unlikely to become law this year or next.

New Appointments Signal Opportunities for Trucking, Workforce Development

The president-elect’s team has announced several key Cabinet nominations in recent weeks, including two notable for the lumber and building materials (LBM) sector:

• Sean Duffy for the Department of Transportation: A former congressman from Wisconsin and three-time world champion in the 90-foot lumberjack speed climb, Duffy is well-acquainted with the wood and forestry sectors. He led the Safe Routes Act in the House, which proposed allowing heavier trucks on interstate highways. Duffy has shown an openness to truck weight reform and efficiency solutions in transportation.
• Lori Chavez-DeRemer (R-Ore.) for the Department of Labor: Although not officially nominated, Chavez-DeRemer has been floated as a candidate. She introduced the Jobs in the Woods Act in the House, aimed at recruiting and retaining workers in forestry, logging, and sawmilling. Workforce development is a top priority for Chavez-DeRemer, which would likely remain a focus if she secures the nomination and confirmation.