An eleventh-hour temporary extension of federal highway and transportation spending is partially paid for by new tax compliance requirements. The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (H.R. 3236) was approved by the House, 385 to 34, on July 29, and the Senate on July 30, by a 91-4 margin.
New orders in May 2015 were up 5 percent over both May 2014 and April 2015, according to our latest survey of residential furniture manufacturers and distributors. This followed a 3 percent increase reported last month. We noted last month that the smaller increase in April was probably due to a large increase in April 2014 compared to April 2013 due to an early April market in 2014.