[Congressional Record Volume 169, Number 65 (Wednesday, April 19, 2023)]
[House]
[Page H1875]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          PROVIDING FOREST LANDOWNERS SOME FINANCIAL RECOVERY

  (Mr. CARTER of Georgia asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. CARTER of Georgia. Mr. Speaker, I rise today in full support of 
the bipartisan and bicameral H.R. 655, known as the Disaster 
Reforestation Act. Specifically, this bill would eliminate the ``basis 
limitation rule'' allowing landowners who farm trees with the intent of 
sale to deduct the value of their timber loss from a natural disaster, 
providing forest landowners financial recovery after a catastrophic 
event.
  There is currently no Federal program that allows timber farmers to 
recoup the loss of their timber, leaving them with no way to 
economically recover after a natural disaster.
  Private forests in the U.S. are vital to rural economies, strong 
domestic wood supply, and as a natural climate solution. Our Nation's 
private forests act as our largest carbon sinks and are essential to 
providing clean air and water.
  Fixing this casualty loss issue would provide an immediate and 
permanent solution for forest landowners to keep their forests working, 
a vital part of rural economies.
  Again, this is a bipartisan and bicameral bill, and I urge my 
colleagues to join me in support of H.R. 655, the Disaster 
Reforestation Act.

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