Washington, DC (PRWEB) April 8, 2011
Key leaders from America’s most prominent association of insulation manufacturers were in the nation’s capital today urging Administration officials to expand tax incentives that spur jobs and growth by encouraging homeowners to install insulation and other energy efficiency improvements.
A delegation of business executives from member companies of the Council of the North American Insulation Manufacturers Association (CNAIMA) met with officials at the Department of Energy, the Council on Environment Quality (CEQ), and the White House Domestic Policy Council to request that two residential energy efficiency tax credits be expanded and that a similarly-aimed tax deduction for commercial building owners be revamped into a full-blown tax credit.
“These tax incentives have helped create thousands of jobs and advanced the societal goal of increased energy efficiency and savings – they should not only be extended, they should be strengthened,” said CNAIMA President and CEO Kate Offringa after the meetings.
Offringa and the CNAIMA members called on Administration officials to renew a provision of the 2005 Energy Policy Act known as 25(C) that has helped tens of thousands of homeowners across the country save substantial amounts on monthly energy bills. They also called on the Administration to expand a provision known as 45(L), which provides home builders with a $2,000 tax credit for the construction of new homes that reduce heating and cooling costs 50 percent.
Finally, CNAIMA urged the Administration to convert the 179(D) tax deduction, which also dates to 2005, into a full-fledged tax credit to encourage more commercial building owners to install energy efficiency improvements to their building’s envelope, and/or its cooling, lighting, or hot water systems.
In addition to the Administration officials, CNAIMA will be meeting this week with Members of Congress from both sides of the aisle. “By expanding these incentives beyond 2011, Washington can help put thousands of installers back to work while at the same time saving homeowners millions of dollars a year in wasted energy,” Offringa said. 25(C) provides a tax credit of 30 percent (up to $500) for heating, ventilation, and air conditioning equipment, insulation, energy-smart windows, and other products designed to save energy. “Unfortunately, the cost of actually installing additional insulation and some other products is not currently covered by 25(C). This oversight should be corrected to give the program the biggest bang for its buck.
“Any serious effort to reduce reliance on foreign sources of energy or reduce emissions must begin by continuing the programs that are in place and working today,” Offringa concluded. CNAIMA represents 15 companies in 23 states.
About the Council of NAIMA
The Council of the North America Insulation Manufacturers Association advocates for policies and programs that encourage and incentivize increased energy efficiency through insulation in new and existing residential and commercial buildings and industrial applications. Membership in the Council of NAIMA is open to thermal and acoustical insulation manufacturers – regardless of insulation product type – and their suppliers located in North America.
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