Emergency Coronavirus Relief Act of 2020 to Help American Loggers and Log Haulers

The American Logging Council (ALC) is reporting that Members of Congress have recognized the important role the timber harvesting industry plays in the U.S. economy by including both logging and log hauling businesses in the recently passed $900 billion Emergency Coronavirus Relief Act of 2020. Language in the legislation includes the appropriation of approximately $ 200 million in funding for logging and log truck businesses who saw a greater than 10% loss in revenues from January 1st to December 1st, 2020, related to the COVID-19 pandemic, as compared to revenues for the same period in 2019. The ALC explained that many logging companies experienced severe losses when lumber and paper mills across the country reduced or ceased production in response to drops in demand. Nationwide production curtailments have led to lower prices for log delivery to mills. Virtually all raw material delivered to mills by loggers and truckers have experienced price drops greater than 5% in 2020 compared to 2019.

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Original Source:
American Loggers Celebrate Passage of Emergency Coronavirus Relief Act of 2020