“Cash for Caulkers” is the latest job and economic stimulus plan under the Obama administration. The program will distribute money for home weatherization and the overall plan expands on The Recovery Act, passed earlier this year.
Nancy Pelosi (D - CA) is leading a team of Congressional democrats as they work with the Obama administration to put together the details of the stimulus program.
Cash for Caulkers would reimburse homeowners 50 percent of the cost of equipment and installation, up to $12,000, when they install energy-efficient appliances and insulation.
Other parts of the new plan include money for companies in the renewable energy and energy-efficient sectors, which will build on The Recovery Act and create new jobs. In addition, this new plan will help small businesses expand investment, hire workers and access credit.
The Recovery Act allowed for a 75 percent exclusion from capital gains taxes on small business investments. The new Cash for Caulkers proposal calls for a one-year elimination of the tax entirely. The plan also includes a tax cut for small businesses, in hopes of encouraging them to hire new workers in 2010.
Elimination of fees and additional guarantees for small businesses that borrow through major Small Business Administration programs in 2010 are also elements to the proposal plan.
Tax credits for home efficiency have been offered in the past, but haven’t been widely utilized. Cash for Caulkers should dramatically increase energy efficiency efforts of the average American.
Written by Sharalyn Hartwell
HULIQ.com
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