Reichert Legislation Fulfills President's Call For Energy Efficiency Tax Incentives
Congressman Dave Reichert (WA-08) today applauded President Barack Obama's support for the cost-saving and job-creating potential of energy efficiency incentives. Reichert, a vocal proponent of such measures, recently introduced H.R. 4226, the Expanding Building Efficiency Incentives Act of 2009, a comprehensive, bipartisan bill that extends and expands five key energy efficiency incentives for the construction of a new home, retrofitting an existing one, upgrading commercial properties to conserve and cut energy costs, and assisting consumers seeking assessments of home energy usage.
"I am encouraged by the President's support for a market-based approach to reduce home energy costs and create future energy jobs," Reichert said. "I am proud to author a bipartisan package of tax incentives to help families and businesses save on energy bills and become smarter energy consumers, while at the same time creating much-needed American jobs. The President has urged Congress to look for ways to promote economic recovery, create jobs and cut costs, and so I urge my colleagues in Congress to consider and pass this bill that will help meet those important objectives."
Provisions of H.R. 4226 include:
1) New Energy Efficient Home Tax Credit (45L): $5,000 tax credit for the construction of a new home that is 50 percent more energy efficient than 2003 standards. Since its creation in 2005, this credit has seen a three-fold increase in usage, but it is set to expire at the end of 2009.
2) Deduction for Energy Efficient Commercial Buildings (179D): Increases the deduction for energy efficient upgrades to commercial buildings from $1.80 to $3.00 per square foot.
3) Residential Property Energy Credit (25C): $5,000 credit to homeowners to offset the costs of energy efficient retrofits (i.e. heating and cooling systems, windows, and doors) to their property.
4) Home Energy Rating Credit (25E): $200 credit for the cost of obtaining a home energy rating.
5) Home Performance Auditor Certification Credit (45R): $500 credit for training to be certified to perform home energy ratings.