November 10, 2025• View in browser

NLBMDA Weekly is our newsletter covering everything from the latest activity in Washington to updates from our members. This is the premier source of federal legislative, regulatory, and industry news for NLBMDA members.

NLBMDA Calls on USTR to Strengthen North American Trade Framework Through USMCA Review

Last week, NLBMDA submitted formal comments to the Office of the U.S. Trade Representative (USTR) ahead of next year’s joint review of the United States-Mexico-Canada Agreement (USMCA). Representing the lumber and building materials industry, NLBMDA urged the administration to modernize and strengthen the North American trade framework to preserve reliable access to materials, promote housing affordability, and bolster U.S. competitiveness in the construction supply chain.

NLBMDA’s recommendations include negotiating a new Softwood Lumber Agreement with Canada, protecting against cost-increasing trade measures such as steel and aluminum tariffs, and preserving tariff-free access to building material products. “Our dealers depend on predictable, tariff-free trade to provide affordable, high-quality materials nationwide,” said Jonathan Paine, NLBMDA President & CEO. “Strengthening the USMCA will help maintain a resilient North American housing supply chain and address ongoing affordability challenges.” Once reviewing NLBMDA’s and other stakeholder submissions, USTR will begin a formal review of the USMCA agreement in mid-2026.

Read our submission to USTR here.

Visa and Mastercard Reach Swipe-Fee Settlement with Merchants

Over the weekend, reports emerged that Visa and Mastercard are nearing a settlement with merchants in a long-running legal dispute over swipe fees. These fees, which merchants pay on each card transaction, have risen steadily year over year with no formal mechanism to limit increases. The dispute stems from a 20-year legal battle, originally a class-action lawsuit alleging that Visa and Mastercard violated federal antitrust law by centrally price-fixing swipe fees charged by the banks that issue cards under their brands. This marks the third attempt by the companies to reach a settlement.

The agreement includes some concessions, such as a reduction in interchange fees. However, it establishes no long-term framework to prevent future fee hikes and still allows Visa and Mastercard to raise costs through other channels, such as network fees. The settlement would also bar merchants from pursuing legal action against the companies for eight years. The agreed swipe-fee reduction is roughly equivalent to the increase merchants experienced from 2023 to 2024, showing that Visa and Mastercard made no meaningful effort to lower the fees merchants must pay.

The Merchant Payments Coalition (MPC), of which NLBMDA is a leading participant, has issued a press release criticizing the settlement. NLBMDA continues to advocate for legislative solutions, including the Credit Card Competition Act, that would provide permanent protections for merchants.

U.S. Senate Advances Funding Bill, Creating Pathway to Reopen Federal Government

Since NLBMDA’s last newsletter, the 2025 government shutdown has become the longest in U.S. history, a record no Congress should hope to repeat. Over the weekend, the Senate reached a bipartisan funding deal that could reopen the government later this week. The agreement would fund most federal agencies through January 30 and provide full-year appropriations for the Departments of Agriculture and Veterans Affairs, as well as the legislative branch, whose staff have been working without pay. In a 60-40 procedural vote, the Senate advanced the measure with support from eight Democrats and nearly all Republicans. As part of the deal, Majority Leader John Thune (R-SD) also committed to holding a vote on an extenders package for expiring Affordable Care Act subsidies.

The House of Representatives, which has been out of session for more than 50 days, is expected to reconvene Wednesday after Speaker Mike Johnson (R-LA) gave lawmakers 36 hours’ notice for a vote on the new spending package. Once Congress returns to regular order, it faces a full legislative agenda that includes several NLBMDA-backed priorities. The Fix Our Forests Act is nearing passage in the Senate, while the ROAD to Housing Act recently passed the Senate and is now headed to the House for debate. Lawmakers must also finalize full-year funding for nine remaining appropriations bills covering agencies still operating under temporary extensions. NLBMDA has continued meeting with Senate offices throughout the shutdown and has begun outreach to House offices as they return to Washington to ensure NLBMDA’s legislative priorities remain a legislative focus.

Multifamily Developer Confidence Increases in Third Quarter, But Still in Negative Territory

Confidence in the multifamily housing market showed a year-over-year uptick in the third quarter of 2025, according to the National Association of Home Builders’ (NAHB) latest Multifamily Market Survey (MMS). The Multifamily Production Index (MPI), which gauges builder sentiment on current production conditions, rose six points to 46, signaling cautious optimism, especially in garden/low-rise and subsidized rental segments. Meanwhile, the Multifamily Occupancy Index (MOI), which reflects perceptions of current apartment occupancy, remained strong at 74, though it marked the lowest reading in nearly three years. Notably, mid/high-rise developments continue to lag behind other segments in both production and occupancy sentiment.

NAHB experts point to a bifurcated market, with developers of low-rise and subsidized properties expressing growing confidence, while those focused on mid- and high-rise or condominium projects remain more cautious. Persistent challenges—such as regulatory hurdles, rising construction costs, and financing difficulties—continue to weigh on the sector. The survey also revealed that most developers (68%) perceive current market conditions as unchanged from three months prior, underscoring a sense of stability amid mixed signals. The MMS, redesigned in 2023 for clarity, emphasizes year-over-year comparisons until seasonal adjustments become viable.

Zillow's October 2025 Home Value and Home Sales Forecast

Zillow’s latest forecast calls for home values to end the year right where they started, essentially unchanged in 2025, before regaining momentum in 2026. After bottoming out as flat in December and January, annual home value growth is expected to rise to a peak of nearly 1.9% in August of 2026.

Home sales should end the year relatively weak as well, posting numbers very similar to the multi-year lows seen in 2024. Zillow’s forecast for 2025 National Association of Realtors (NAR) Existing Home Sales is now at 4.07 million, which would mark a 0.3% increase from 2024 but is slightly below last month’s forecast of 4.1 million. The revision reflects weak momentum in August sales and softer-than-expected growth in September pending home sales.

New listings growth has cooled from the strong pace seen earlier in the year but remains on track to outpace sales, which would keep inventory on its path to recovery after diving during the early years of the pandemic.

Rents should end the year with considerably slower growth than last year, as well. Zillow expects single-family rents to rise 2.8% in 2025, down from 4.3% in 2024. Multifamily rents are projected to increase 1.1% in 2025, down from 2.5% in 2024. More new multifamily units hit the market in 2024 than any year since 1974.

Personalized Entry-Level Driver Training Certification for NLBMDA Members

The National Lumber and Building Material Dealers Association (NLBMDA) has partnered with J.J. Keller & Associates, Inc. to offer members of the association an exclusive discount on certifying trainers in entry-level driver training (ELDT).

With J. J. Keller’s Safe & Smart® ELDT Certification Program, trainers will gain the skills and knowledge they need to train drivers to prevent accidents, avoid violations, reduce liability, and begin a safe career at your company. After completing this program, driver trainers will be prepared to effectively deliver J.J. Keller’s Safe & Smart® ELDT curriculum online, in the classroom, on the range and on the road. It’s the industry’s most hand-on, customizable trainer certification program, providing the flexibility to train your trainers when and how it works best for you. Not only is it ideal for new drivers, it’s also ideal for existing trainers who want to build their skills for the life of your drivers — and be able to continue coaching them the entire way.

Request More Information

NLBMDA 119th Congress Legislation Tracker

Starting with this edition of NLBMDA Weekly, NLBMDA will provide a new legislative tracker highlighting the status of priority bills the association is actively supporting on Capitol Hill. The tracker will be updated regularly to reflect the progress of key legislation impacting the lumber and building material industry.

This week’s update shows significant movement on several NLBMDA-backed bills. The Main Street Tax Certainty Act, 100% Bonus Depreciation (Full Expensing), and Estate Tax Exemption Increase have all successfully cleared Congress and been signed into law, marking major wins secured in Congress’s tax package which became law this past summer. The Fix Our Forests Act continues to advance in the Senate following committee passage, and the ROAD to Housing Act is expected to be taken up in the House after clearing the Senate earlier this fall. Other NLBMDA-supported measures, including the CONSTRUCTS Act and Credit Card Competition Act of 2025, remain active and under consideration.

Through this new feature, NLBMDA members can easily track progress on federal priorities that directly impact housing affordability, workforce growth, supply chain stability, and small business competitiveness.

U.S. Supreme Court Hears Oral Arguments on Tariff Constitutionality

Last week, the U.S. Supreme Court held oral arguments over the White House’s sweeping tariffs, with several justices’ expressing skepticism about whether the executive branch exceeded its authority. The case centers on the use of tariffs justified under the 1977 International Emergency Economic Powers Act (IEEPA tariffs), which have been the federal government’s largest source of tariff revenue this year. During nearly three hours of arguments, both conservative and liberal justices raised concerns about the administration’s claim that the law allowed unilateral tariff action without explicit congressional approval. Chief Justice John Roberts underscored that imposing taxes on Americans has traditionally been a power reserved for Congress. Justices Neil Gorsuch and Amy Coney Barrett also questioned the administration’s interpretation, signaling potential limits on presidential trade authority.

If the Court strikes down the tariffs, importers could see more than $100 billion in refunds, easing costs across multiple sectors, including building materials. Several justices, however, raised questions about how such refunds could be administered without an established mechanism in place. The Court’s decision is expected later this year and will have far-reaching implications for executive trade authority and could reshape how future trade agreements are negotiated. NLBMDA will continue monitoring the case and provide a full debrief on its impact on the LBM industry once a ruling is issued.

Trump Administration Floats 50 Year Mortgage as a Solution to Increase Pathways to Home Ownership

President Trump and Federal Housing Finance Agency Director Bill Pulte have introduced a proposal for a 50-year mortgage, aimed at expanding financing options amid the growing housing affordability crisis in the United States. This longer-term mortgage could make homeownership more accessible by lowering monthly payments, potentially increasing demand for new homes. Higher home sales could, in turn, benefit home builders and building material suppliers by boosting construction activity and the need for materials. However, the extended amortization period comes with a tradeoff, borrowers would pay significantly more in interest over the life of the loan.

Provided below is a comparison of 15, 30, and 50-year mortgage options for a $625,000 loan at 6.25% interest, showing monthly payments, total interest over the life of the loan, and estimated equity after 10 years.

Working closely with lawmakers and industry stakeholders, NLBMDA continues to pursue initiatives to expand housing availability and strengthen pathways to homeownership and encourages the administration to continue exploring innovative approaches to the nation’s housing affordability challenge.

Reps. Brian Fitzpatrick (R-PA) and Chris Pappas (D-NH) Introduce Accelerating Home Building Act in U.S. House of Representatives.

On November 5th, Reps. Chris Pappas (D-NH), Janelle Bynum (D-OR), Bryan Steil (R-WI), and Brian Fitzpatrick (R-PA) introduced the Accelerating Home Building Act (bill number pending), bipartisan legislation that established a Housing and Urban Development-administered grant program to fund the creation of pattern books with an emphasis on missing middle and infill construction. Pattern zoning, which involves creating a book of preapproved designs, expedites the preconstruction process by allowing pre-approved designs to expediting through local permitting processes allowing construction to begin on an accelerated timeline. The legislation was introduced in the Senate earlier this year by Sens. Bernie Moreno (R-OH) and Lisa Blunt Rochester (D-DE).

The legislation, which NLBMDA supports, is also included in the ROAD to Housing Act, a comprehensive housing package proposing a variety of solutions at each level of government to expediate review processes allowing for more homes to be built. The ROAD to Housing Act passed through the Senate earlier this year and now sits with the U.S. House of Representatives for further consideration.

More information about the Accelerating Home Building Act can be found here.

U.S. Senate Rebukes White House Tariffs Through Series of Votes

The Senate has moved to rebuke President Trump’s tariffs, advancing three Democratic-led resolutions aimed at curbing the president’s authority to impose recent duties. Led by Senators Tim Kaine (D-VA) and Ron Wyden (D-OR), the resolutions seek to end the national emergency declarations behind the 50 percent tariffs on imports from Brazil, the 35 percent tariffs on Canada, and the April 2 “Liberation Day” global tariffs. Republican Sens. Rand Paul (KY), Lisa Murkowski (AK), Susan Collins (ME), and Mitch McConnell (KY) joined Democrats in supporting the resolutions.

The vote is largely symbolic, as House Speaker Mike Johnson (R-LA) has not indicated whether the Senate resolutions will be brought to the House floor. Still, the Senate’s action underscores mounting concern over the impact of ongoing trade uncertainty on small businesses and key sectors, including agriculture and heavy manufacturing, which have faced disproportionate challenges due to elevated tariffs.

Leadership promotions at TAL Building Centers

TAL Building Centers, a family-owned company operating 29 building material centers across the Pacific Northwest, has announced two key leadership promotions: Gaven Gregory has been named Chief Operating Officer, and Billy Cornelius has been promoted to Vice President of Pro Sales.

The 2025 LMC Expo ignited a powerful gathering in Philadelphia, uniting the champions of the LBM industry, dealers, suppliers, and the LMC Team, to set the stage for a breakthrough year in 2026. Over three impactful days, LMC Dealers picked up exclusive market insights from forest product leaders, boosted their purchasing strategies with LMC contracts and programs, and connected with top dealers from coast to coast.

The Expo also delivered expert insights on the latest building innovations and product trends, helping members stay ahead of the curve. The event kicked off with a Component Alliance roundtable, Supplier Forum, Business Continuity Panel, and a session on Futures. Additionally, the LMC Kitchen and Bath department hosted a focused, design-sales training tailored specifically for Kitchen & Bath professionals.

BlueLinx makes a big move in Oregon

BlueLinx Holdings Inc. has acquired Disdero Lumber Co., LLC, a specialty products distributor, from privately held Tumac Lumber Company, Inc.

Operating since 1953 and based in Clackamas, Oregon, Disdero is a distributor of premium specialty wood products. The aggregate purchase price was approximately $96 million, and when adjusted for an estimated $8 million of expected tax benefits, the net transaction value is approximately $88 million. According to BlueLinx, the acquisition was funded with cash on hand and is not expected to materially change the company’s liquidity position. It is expected to be immediately accretive to earnings.

For the third consecutive year, members of Weyerhaeuser's Corporate Development organization were among the thousands who traveled to New York City last month for one of the world’s largest and most important climate gatherings, Climate Week NYC. The annual event overlaps with the United Nations General Assembly and serves as an opportunity for leaders in the public and private sectors to raise awareness and engage in important conversations around the global response to climate change. More than 1,000 official events were held across the city from Sept. 21 to 28, making this year’s Climate Week NYC the largest in its 16-year history. Weyerhaeuser’s contingent — including Paul Hossain, senior vice president and chief development officer; Alicia Robbins, vice president, Natural Climate Solutions and Business Development; Ara Erickson, vice president, Corporate Sustainability; and Vaughan Andrews, senior manager, sustainability — were in the middle of the action, traversing the city to participate in more than a half dozen formal speaking opportunities and countless other meetings, forums and networking events in support of our business and sustainability objectives.

NetNow and HBSDealer to Host Webinar "AI & Tech Trends for Dealers: Growth, Cash Flow & Credit Accounts"

Wed, Nov 12, 2025 1:00 PM EST

Customers expect faster credit approvals, seamless payments, and flexible terms—while dealers & C-Suite expect tighter risk controls and healthier cash flow. In today's economic climate and with rising fraud, this is becoming harder and harder to manage. The good news? Today’s technology can help credit teams deliver on both fronts.

In this exclusive webinar, you’ll discover how dealers & suppliers across North America are using technology and AI to:

Accelerate credit approvals without increasing risk
Automate collections to reduce late payments and strengthen cash flow
Empower Sales to sell more confidently while giving Finance more visibility and control
Reduce and minimize fraudulent credit accounts and payments

NetNow is the credit management platform of choice for dealers, wholesalers and distributors across North America. Their cutting-edge technology empowers Credit, AR, and Sales teams to open and manage accounts faster, more efficiently, and with reduced risk. Proud partners with the National Association of Credit Management and the Credit Research Foundation—and recognized by Intuit as the Most Customer Obsessed Fintech Company—NetNow helps its customers process millions of dollars in credit transactions every month!