Cash For Caulkers Blog

Will Obama Discuss Home Star details on September 10th?

Cash For Caulkers — Fri, 03 Sep 2010 21:19:24 +0000

Harvard University History and Business Professor Niall Ferguson told CNBC today that the White House may roll out tax cuts before the November elections. This story also jives with one from the Business Insider today which suggests the White House is preparing another stimulus, but the White House states that no stimulus is being considered. Business Insider speculates that focus group research might indicate a negative perception of the word “stimulus”, so it is likely any further economic stimulus will not be labeled so.

The question we ask is how does the Home Star program fit in with any potential economic stimulus package from the White House?

Perhaps the stars are aligning for the Cash for Caulkers program. The House has already passed their version of the Home Star program. The Senate is back in session on September 10th. And now President Obama has a news conference scheduled for Friday, September 10, 2010. Will the President be promoting the Home Star program during his news conference?

Senate to Address Energy Legislation in September

Cash For Caulkers — Wed, 11 Aug 2010 19:45:16 +0000

The Senate is currently on recess and is scheduled to return on September 10th. Upon their return it is expected that they will address legislation on energy, small business, and appropriations bills. The energy legislation should include discussion of the proposed Homestar, or “Cash for Caulkers”, program that the House passed earlier this year.

What are the odds of Cash for Caulkers passing the Senate? Leave your comment below!

Senator Reid to Introduce Home Star Bill to the Senate Today

Cash For Caulkers — Wed, 28 Jul 2010 11:01:27 +0000

According to the Financial Times, Senate Majority Leader Harry Reid released details of an energy bill on Tuesday, July 27th. However, at the time of this post Senator Reid’s website does not contain comment or details on the energy bill. The Financial Times article states the bill will provide $5 billion in incentives for the Home Star program, which will give rebates to homeowners to make their homes more energy efficient.

According to CNBC, Senator Reid will introduce the Home Star bill today in the Senate, and hopes to get this bill passed next week before the Senate takes its August recess.

Cash For Caulkers Bill Still Under Consideration in the Senate

Cash For Caulkers — Fri, 23 Jul 2010 01:24:08 +0000

According to an article published this evening on CNNMoney.com, Senate Majority Leader Harry Reid has said that any energy bill the Senate would pursue would focus on four areas, one of which is the Homestar program, commonly referred to as Cash for Caulkers.

The Sponsor of the bill in the Senate is Senator Jeff Bingham, a Democrat from New Mexico. Co-sponsors are Senator Lindsey Graham and Senator Mark R. Warner. Senate bill S.3177, referred to as the Home Star Energy Retrofit Act of 2010, has been referred to the Committee on Finance.

The House of Representatives passed the $6 billion Cash for Caulkers bill on May 6, 2010.

When Will the Senate Vote on the Cash for Caulkers Bill?

Cash For Caulkers — Fri, 28 May 2010 14:59:34 +0000

According to this article from Business Week, the Senate probably won’t consider the Cash for Caulkers bill until mid-June. Stay tuned to Cash for Caulkers Blog for future updates!

House of Representatives Passes “Cash for Caulkers” Homestar Bill

Cash For Caulkers — Fri, 07 May 2010 02:38:06 +0000

Today the House of Representatives passed the $6 billion Cash for Caulkers bill. According to CBS News, the cost of the proposed program is at $5.7 billion over two years. The bill will now go to the U.S. Senate, and if approved there, will then go to the President. Based on the President’s previous comments about the program, it appears he would sign the Homestar bill into law without question.

The proposed Homestar program is split up into two tiers:

The Silver Star program would provide upfront rebates of up to $3,000 for specific energy-efficient improvements in homes, such as installing energy-efficient appliances or duct sealing, insulation or new windows or doors.

The Gold Star program would entitle people to up to $8,000 when they conduct comprehensive energy audits and implement measures that reduce energy use throughout their homes by more than 20 percent.

Homestar Not a Priority for Upcoming Jobs Bill

Cash For Caulkers — Thu, 11 Feb 2010 11:36:01 +0000

On Tuesday, Reuters reported that President Obama said that incremental steps might be necessary to get job-boosting initiatives to pass Congress. The President also acknowledged that it is realistic that a jobs bill might not have everything he wants to see in it. The article discussed several initiatives to try to create jobs, but Homestar (Cash for Caulkers) was not mentioned.

In addition, during his weekly radio address on February 6th, the President discussed proposals to help small businesses, since small businesses are key to creating jobs in America. Creating a small business lending fund, offering a new tax credit to businesses who hire workers, and providing incentives for companies to export goods and services across the world were all mentioned. However, there was no discussion of a Cash for Caulkers initiative.

Clearly, Cash for Caulkers is not at the top of the priority list for a jobs creation bill.

Obama Reiterates Desire to Give Homeowners Rebates for Energy Efficiency

Cash For Caulkers — Thu, 28 Jan 2010 02:46:17 +0000

In tonight’s State of the Union Address, President Obama referenced the proposed Homestar, or “Cash for Caulkers”, program by stating “we should give rebates to Americans that make their homes more energy efficient.”

President Obama said that jobs must be the #1 focus in 2010 and that he wants a jobs bill on his desk without delay. Questions now include what the details of the jobs bill will be, what type of tax credit will be given to homeowners that implement energy efficiencies, and how long it will take for the bill to work its way through the House, the Senate, and to the President.

Energy efficiency was also a repeated theme of the President’s speech, including creating incentives for new clean energy jobs, building nuclear power plants, offshore gas development, and investment in biofuel technologies.

We will continue to follow the progress of the proposed Cash for Caulkers program and publish updates as more details of the bill emerge.

Photo courtesy of: http://www.flickr.com/photos/soldiersmediacenter/ / CC BY 2.0

2009 Tax Checklist for Energy Efficiency Credits

Cash For Caulkers — Sun, 24 Jan 2010 12:44:33 +0000

It’s that time of year when taxpayers are starting to receive 2009 tax information in the mail and, as a result, starting to prepare their 2009 taxes.

Here’s a quick and easy checklist to see if you qualify for any home energy efficiency improvement tax credits:

Did you install any of the following in 2009?

Biomass Stove
Heating, Ventilating, Air Conditioning (HVAC)
Insulation
Roof
Water Heater
Windows
Doors
Geothermal Heat Pumps
Small Wind Turbines
Solar Energy Systems

If so, you may qualify for a tax credit for 30% of the cost, up to $1,500, for improvements placed in service starting January 1, 2009. This tax credit is good for the 2009 and 2010 tax year, subject to a maximum total credit of $1,500 over the two years. For a complete summary of tax credits available, and procedures on how to claim a tax credit, see EnergyStar.gov’s Federal Tax Credits for Energy Efficiency.

Not only can you get credit from some of these large projects, but there are small projects that you may have tackled in 2009 that would qualify. If you used caulk or spray foam to seal your house, installed weatherstripping on doors around your house, or installed your own insulation, you may be eligible for a credit provided you still have your receipt.

Photo courtsey of: http://www.flickr.com/photos/wwworks/ / CC BY 2.0

Will Obama Discuss Cash for Caulkers on January 27th?

Cash For Caulkers — Thu, 21 Jan 2010 18:23:29 +0000

Will Obama discuss the Cash for Caulkers in his State of the Union Address on January 27th?

On one hand, now that Scott Brown has been elected as a Massachusetts Senator, one could argue the odds of the Cash for Caulkers program becoming a reality probably have decreased. With Brown’s victory, the Democrats no longer have their supermajority which is needed to overcome any GOP filibusters. The number one priority for the Democrats right now is trying to deliver on the President’s desire for health care reform, which is distracting from any progress with Cash for Caulkers.

On the other hand, the White House may seek to do something about the unemployment rate and promote the Cash for Caulkers plan as a way to not only increase energy efficiency in our country, but also put people to work.

What do you think? Will the President reveal more about his intentions for Cash for Caulkers next week? Leave a comment with your opinion below.