U.S. HOUSE PASSES ‘HOME STAR’ FUNDING EFFICIENCY

Home renovators alert: House passes Caulkers bill
Jim Abrams, May 6, 2010 (AP)

"Homeowners could collect thousands of dollars in Cash for Caulkers rebates for renovating their homes with better insulation and energy-saving windows and doors under a new economic stimulus bill the House passed Thursday.

"The Home Star bill [H.R. 5019], passed 246-161, would authorize $5.7 billion over two years for a program that supporters — mostly Democrats — said would have the added benefits of invigorating the slumping construction industry and making the earth a little cleaner…Republicans overwhelmingly opposed the bill, and they were able to attach a condition that it would be terminated if Democrats do not come up with a way to pay for it."

This bill could plug the leaks. (click to enlarge)

"The measure has come to be dubbed Cash for Caulkers, a takeoff on the popular 2009 Cash for Clunkers initiative that rewarded people for replacing gas-guzzling vehicles with more fuel-efficient models…President Barack Obama praised the House action…

"The initiative is separate from an energy tax credit [for energy efficiency improvements] of up to $1,500 that was included in last year's economic stimulus act…[and] runs through the end of this year…Supporters estimate that 3 million households would make use of the new program, saving $9.2 billion in energy costs over a 10-year period…[and] create 168,000 jobs, mainly in the recession-hit construction industry…[Republicans said] the price tag was too high at a time of mounting federal debts…[and] questioned whether the government can run the rebate program fairly and effectively…"

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"Under Home Star, rebates or discounts would be provided to homeowners at the time of sale. The retailer or contractor then would submit documentation… to the Energy Department for payment…To prevent fraud, the program would require licensing for all participating contractors and a certain percentage of projects would be inspected…

"…The bill has two parts: The Silver Star program provides upfront rebates of up to $3,000 for specific energy-efficient improvements in homes…A Gold Star program would entitle people to up to $8,000 when they conduct comprehensive energy audits and implement measures that reduce energy use throughout their homes by more than 20 percent…With House passage, the bill moves to the Senate, where it most likely will be attached to the next jobs bill…"