There isn’t much time left before Congress adjourns for the
fall; the target date for closing up shop in D.C. is Oct. 8. Then, of course,
they’re all heading home to stump for your vote on Nov. 2.
But until then, our representatives sure seem to be keeping busy.
Here’s a brief overview of some of the action on the Hill that has the
potential to affect the HVAC industry.
Small Business Bill: The
Senate passed the Small Business Jobs and Credit Act of 2010 last week, and the
House is expected to approve it this week. This bill includes an increase in
the Section 179 Expensing Limits through 2011 and an extension of the expired
“bonus depreciation” allowance for 2010. To learn more about how this bill could
aid your business, I recommend Charlie McCrudden’s great overview on the ACCA
site:www.acca.org/blog.php?id=584.
Call for 25C
Extension: Everyone’s familiar with the 25C tax credits available to
homeowners who install high-efficiency systems. These credits will expire on
Dec. 31 of this year, but some in the industry are calling for an extension.
HARDI is leading the charge on this front; learn more at:www.wholesaleobservations.blogspot.com/2010/09/hardi-launches-industry-nation-wide.html.
I’ll also be writing more about this topic in the next issue of The NEWS.
Rural Star Bill: Last
week the House passed The Rural Energy Savings Program Act, commonly known as
Rural Star. If also passed by the Senate, this bill would create a lending
program to provide low-interest financing for a wide range of weatherization
and energy efficiency improvements. It’s different from the Home Star program (that
has stalled in the Senate) because this bill authorizes loans, not rebates. This
blog has a good overview of the Rural Star program:www.www.mytimesdispatch.com/index.php/virginiapolitics/rural_star_legislation_passes_the_house/.
Energy
Bills, Etc.: For an interesting look at other energy measures
which might be brought to the table after the elections are over, check out
this New York Times article:www.nytimes.com/gwire/2010/09/13/13greenwire-as-senate-returns-democrats-seek-action-on-ene-80957.html.