The National Association of Home Builders (NAHB) commended President Obama's proposed home energy efficiency incentive program. NAHB said the program would create jobs and help make America more energy independent.
Rebates would be offered on energy efficient home HVAC equipment and water heaters, as well as insulation and windows and doors. The President calls the program Homestar, but many in Congress and the media have dubbed it Cash for Caulkers.
The President said the $6 billion Homestar program would help create jobs by encouraging American families to invest in energy saving home improvements. NAHB agrees.
"This has the potential to be a real shot in the arm for the home building industry,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, MI. “It will help put America back to work and it will help families save on monthly energy bills."
NAHB economists estimate that every $1 billion in remodeling and home improvement activity generates 11,000 jobs, $527 million in wages and salaries, and $300 million in business income.
"Making the existing housing stock more energy efficient is one of the most effective ways to achieve national energy conservation goals,” Jones added. “In the long run this can be an important step in reducing the nation’s dependence on foreign energy supplies."
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