As part of the federal government’s efforts to stimulate the lagging U.S. economy, Senators Olympia Snowe (D-Maine) and Dianne Feinstein (D-Calif.) recommended in a Jan. 6 letter to President-elect Barack Obama significant expansions in two important energy tax incentives that promote energy-efficient construction.

“It is paramount that stimulus funding be utilized for capital improvements,” the legislators wrote, “and our nation’s building stock offers one of the greatest opportunities to see an immediate and long-term return on this investment.”

The senators propose to increase the impact of these incentives by extending the energy tax credit for three years and increasing the credit amount to $5,000. They also propose increasing the deduction from $1.80 per square foot to $3 per square foot through the end of 2011.

NAHB has supported extending and expanding these important incentives to improve the energy efficiency of the nation’s housing stock, and applauds the senators’ recommendations and leadership on this issue.

For more information, e-mail Elizabeth Odina at NAHB, or call her at 800-368-5242 x8570; or contact Greg Brown, x8421, or Robert Dietz, x8285.

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