Commonly used to join two boards of equal width and thickness end to end for long sections of molding or trim. Carbide tipped.
FINGER JOINT SHAPER CUTTER
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Can it be set up to joint lumber thicker than 1 1/2" with say, two passes?
You should be able to as long as you are precise with the setup. This is a tight fitting joint and there is not a lot of room for error.