Owens Votes To Create Jobs, Lower Energy Costs
Yesterday, Congressman Bill Owens voted to pass H.R. 5019, the Home Star Energy Retrofit Act of 2010. The bill aims to provide tax credits to homeowners for making energy efficient improvements to their homes, create jobs, and strengthen our national security through energy independence. H.R. 5019 passed the House floor by a vote of 246-161.
"As we work to rebuild our economy and create jobs, this legislation comes at just the right time," Owens said. "The immediate incentives that are provided through this bill will motivate Americans to spur economic development while saving money on their energy bills down the road."
The legislation is endorsed by multiple organizations, including the U.S. Chamber of Commerce, National Association of Manufacturers, Natural Resources Defense Council, Laborers' International Union of North America, multiple organizations from the Faith Community and the Home Star Coalition with over 1,000 business members nationwide.
It is estimated that the Home Star Energy Retrofit Act of 2010 will create 168,000 American jobs in construction, manufacturing and retail industries and save approximately three million American families an estimated $200-$500 per year on their energy bills.
H.R. 5019 aims to spur home energy renovation with two types of consumer incentives:
* The "Silver Star" incentive provides immediate rebates at the time of sale for specific energy-saving investments, including insulation, duct sealing, windows and doors, air sealing and water heaters. Homeowners receive up to $1,500 per improvement, with a rebate of up to $3,000 or 50 percent of the total project cost.
* The "Gold Star" incentive rewards homeowners who conduct a comprehensive energy audit and implement measures to reduce energy use. Consumers under this program receive $3,000 for a demonstrated savings of 20 percent, plus an additional $1,000 for each additional 5 percent energy savings up to $8,000. The bill requires contractors to be certified in order to perform these installations.