The $858 billion package, which extended tax cuts already in place for all Americans, also added additional tax breaks designed to stimulate the nation’s still-fragile economy.
SMACNA is among the groups praising
the tax cuts signed into law by President Barack Obama late last year.
The $858 billion package, which
extended tax cuts already in place for all Americans, added additional tax
breaks designed to stimulate the nation’s still-fragile economy. The bill was
signed by Obama Dec. 17.
The Sheet Metal and Air-Conditioning
Contractors' National Association President Jim Boone said the group was
mostly pleased with the package.
“The 2009 recovery act’s energy
efficiency tax credits significantly helped improve SMACNA contractors’ cash
flow and bottom lines,” Boone said. “Unfortunately, the 2011 tax credits
included in recent tax-extender legislation will not be as robust nor last as
long as the previous incentives.”
The final bill did not
include several other items SMACNA had lobbied for, including investment tax credits
for industrial retrofits, commercial efficiency retrofit incentives and
rebates, and infrastructure bond programs to finance state and local building projects