Energy Efficiency Incentive to Boost Recovery

Home builders are commending President Barack Obama for proposing a new initiative to create jobs and make today’s homes more energy efficient. President Obama gave a speech earlier this month at a Home Depot in the suburban Washington, D.C. area, where he called on Congress to extend energy-efficiency tax credits for home owners as part of an $8 billion effort to reduce energy use.

The National Association of  Home Builders estimates that 11,000 jobs, $527 million in wages and salaries, and $300 million in business income are generated by every $1 billion in new remodeling and home improvement activity. With the proposed energy efficient incentives, we will hopefully see an increase in home remodeling projects throughout Atlanta, as well as across the nation.

This would be a win-win situation all around. Creating more jobs and more revenue is great for the economy, but the homeowner would also benefit from lower monthly utility bills as well as the immediate tax credit. Plus, it is a step in the right direction to reduce our carbon footprint as a nation. If we want to start seeing a change in the environmental problems, then we need drastic steps like this one.

For more information on the proposed legislation and the opinion of NAHB Chairman Joe Robson, visit http://www.nahb.org/news_details.aspx?newsID=10129