The long trade battle over the pricing of Canadian softwood-lumber shipments to the U.S. has become more intense, after a U.S. trade panel’s Dec. 7 ruling that the exports have hurt domestic producers.
Now passed by Congress, the bill bestows one of its biggest and most controversial gifts—a 20% deduction for pass-through revenue—on the majority of U.S. firms that are partnerships, S-corporations and sole proprietorships.
As House and Senate legislators prepare to negotiate a compromise tax-cut bill, some construction groups prefer the version the Senate passed on Dec. 2 over the House-approved measure, particularly because of better provisions for partnerships and other pass-through entities.