Tell Congress to Extend Energy Efficiency Tax Incentives
Posted on Feb 01, 2008 - 07:46 AM
By: Adam Beazley
Yesterday the Senate Finance Committee approved an economic stimulus package that includes one-year extensions of several energy-related tax incentives slated to expire at the end of 2008, including the energy efficient commercial building tax credit and tax incentives for purchasing energy efficient equipment (for more on the bill, click here – http://finance.senate.gov/press/Bpress/2008press/prb013008c.pdf).
These tax incentives help architects and the entire design and construction industry provide energy efficiency solutions to their clients. But without action this year, these incentives will cease to exist.
The House passed an economic stimulus bill earlier this week that did not include these incentives. The Senate will vote soon on its package, and many lawmakers want to strip out provisions not in the House bill. Therefore, we need to make an urgent push to ask Congress to include these tax incentives in the final stimulus bill. Their cost is not great, but their benefits to the built environment could be huge.
The Added provisions include:
1. Extension and modification of energy efficient appliances credit
2. Credit for nonbusiness energy property
3. Taxable income limit on percentage depletion for oil and natural gas produced from marginal properties
4. Credit for residential energy efficient property
5. Extension and modification of credit for the production of electricity production credit from renewable resources, and of the credits for producing refined coal and Indian coal.
6. New energy efficient home credit
7. Extension of energy credit
8. Extension and expansion of clean renewable energy bonds
9. Energy efficient commercial buildings deduction
For more specific descriptions of each of these provisions, you can download the actual description of the chairman’s modifications from U.S. House of Representatives website.
All of these provisions mean more efficiency, more alternative energy and more money back in YOUR pockets. These are the type of tax credits that will move our economy to a more green future. Please take 2 minutes and sign our petition below, we will be sending this petition out to all US congressmen once we reach our goal. Depending on the response and the date of the vote, we may extend the petition and up the signature goal. You could also write a personal letter or e-mail to your state’s representatives as a constituent using our full list of the current U.S. representatives.
| Permalink |
|
Show/Hide Comments (0)
There are no comments for this entry yet.
