WDMA Applauds Introduction of Legislation Extending Energy Efficient Tax CreditSeptember 18th, 2012 | Category: Industry News
The Window and Door Manufacturers Association (WDMA) has issued a statement applauding the introduction of legislation late last week in the U.S. House of Representatives that would reform the residential energy efficiency (25C) tax credit and spur homeowners to make energy-efficient improvements.
As introduced, H.R. 6398 would make the credit permanent for the first time. While it would initially extend the credit at the 2011 levels of 10 percent (up to $200) for windows and skylights and 10 percent (up to $500) for doors through 2013, beginning in 2014, the credit would expand to 10 percent (up to $1,000) for all qualifying products, including ENERGY STAR doors, windows and skylights. Labor costs associated with the installation of windows, doors and skylights would also be eligible for the credit for the first time beginning in 2014. In August, the Senate Committee on Finance passed a bill that would extend the 25C tax credit at the 2011 levels through 2013.
The Home Energy Savings Act (H.R. 6398) was introduced by Reps. Jim Gerlach (R-Pa.) and Richard Neal (D-Mass.), who are both members of the House Committee on Ways and Means. WDMA has been working toward introducing legislation to extend and reform the 25C tax credit that expired at the end of 2011.
“The 25C tax credit stimulates job creation in the vital manufacturing and construction industries and leads to reduced energy consumption for homeowners,” says WDMA president Michael O’Brien. “It has a proven record and helps home owners of existing homes afford higher efficiency products such as windows, doors and skylights.”
What do you think of the proposed tax credit? Will it make a difference? Take our poll at dwmmag.com.