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For Immediate Release: May 8, 2007
Sutton Co-Sponsors Bill to Promote Energy Efficiency in America's Homes and Businesses
Sutton co-sponsors H.R. 1385, the EXTEND the Energy Efficiency Incentives Act
Washington, D.C. - Congresswoman Betty Sutton announced today she is a
cosponsoring H.R. 1385, the EXTEND the Energy Efficiency Incentives
Act. This legislation would extend and enhance current energy
efficiency tax credits, and create new credits for homeowners and
businesses.
Under current law, homeowners can receive a maximum, lifetime $500 tax
credit for the purchase and installation of products that save energy,
such as energy efficient appliances and windows. The EXTEND Act would
extend this credit past its 2007 expiration date and immediately offer
a new, larger credit, available through 2011. The EXTEND Act would
provide a sliding scale credit to homeowners that rises as the
percentage of energy savings achieved increases. The credit would
begin at $800 for homeowners achieving 20 percent energy savings and
top-off at $4,000.
"The EXTEND Act will properly reward home owners that are already doing
their part to make their homes more energy efficient and will provide
an incentive for others to follow suit," Sutton said. "If we are
serious about promoting a responsible policy, we should encourage
families to take steps in their own homes.
"Nearly half of the energy bill for a typical single family home goes
towards heating and cooling, costs that can be brought down
dramatically, for instance, by installing energy efficient windows.
Families spend another 13 percent of their energy costs by running
their dishwasher, refrigerator and washer and dryer. Energy efficient
appliances can further reduce a family's yearly energy bill. Providing
assistance for families to purchase these energy saving technologies
will save our families money year after year."
The EXTEND Act also provides benefits for businesses to become more
energy efficient. Current law provides businesses with up to a $2,000
tax credit for the construction of homes that reduce energy consumption
by 50 percent and a tax deduction equaling $1.80 per square foot of
commercial property, if a retrofit or new construction yields energy
savings of at least 50 percent. The EXTEND Act extends the $2,000
credit available to builders through 2011 and increases the per-square
foot credit from $1.80 to $2.25. Additionally, the legislation extends
a maximum $500 tax credit to businesses for the installation of energy
efficient heating and cooling technology.
"It is imperative that we provide our local businesses with assistance
to invest in energy-saving technology and appliances. Increasing
energy efficiency will save our businesses money and help them be more
competitive," Sutton said. "The EXTEND Act will help businesses
overcome the initial overhead costs that can dissuade them from taking
the initial steps towards greater energy efficiency. I hope my
colleagues will join me in supporting the EXTEND Act to protect our
environment, cut costs for our middle class families and give our local
businesses a break on their energy bills."
Contact: Ian Mandel at 202-225-3401
Jan. 9 - Ryan & Sutton become advocates for Mt. McKinley (Cleveland Plain Dealer)
Jan. 9 - 'OUR VIEW' EDITORIAL: Local congressional raises put to good use (Lorain Morning Journal)
Dec. 9 - Most Ohio lawmakers behind wheels of domestic cars (Columbus Dispatch)
Dec. 11 - Automaker bailout survives House vote (Akron Beacon Journal)
Dec. 10 - Sutton moves to Energy and Commerce Committee (Cleveland Plain Dealer)