U.S. House to begin debate on energy tax bill
May 21, 2008
The U.S. House of Representatives is expected to begin debating a $50 billion energy tax bill that could affect the HVAC industry, the Air Conditioning Contractors of America said.
In a message to members, ACCA lobbyist Charlie McCrudden said the bill could:
Extend the $500 tax credit for homeowners who install high-efficiency furnaces, air conditioners and water heaters until Dec. 31.
Extend tax deductions for commercial building owners of up to $1.80 per square foot when they install high-efficiency equipment.
Give a $2,000 tax credit to homeowners who install geothermal heat pump systems between now and 2015.
The bill must clear the House and Senate, and receive President George W. Bush’s signature before it can take effect.