Most homeowners know that the Federal Energy Tax Credit—which includes up to a $1,500 tax credit for energy-efficient windows, doors and insulation—expires December 31. Interestingly, there's a possibility that a variation of the program will be available in 2011.
The President and the Republicans have arrived at a compromise involving the expiring Bush Tax cuts. The proposed legislation is quite comprehensive (and long), but it does include tax credits for energy-efficient home upgrades. This is part of a bill proposed by Senate Finance Committee Chairman Max Baucus of Montana.
The compromise bill, however, is really just a starting point. Because it covers such a wide range of issues, there is no guarantee that the final bill, if and when passed by Congress, will include the provisions to extend the energy tax credit another year.
The current program has helped the window and door industry see a significant increase in business this quarter, helping to improve the economy and contributing to job growth. That’s why many of us in the window and door industry—from the Window and Door Dealers Alliance to the Window and Door Manufacturers Association—continue to push for inclusion of the Baucus tax credit provision in any final tax package.
Anyone interested in supporting this legislation should contact their representatives in Congress and the Senate about voting for it.
No comments found.
Post a comment (login required)