Energy-Efficiency Home and Vehicle Tax Credits

[hausdok]

President Bush has signed into law new consumer tax credits for energy efficiency home improvements, as well as purchases of plug-in hybrid vehicles. These provisions were included in H.R. 1424, the Emergency Economic Stabilization Act of 2008, which the president signed on October 3, 2008. The homeowner tax credits are largely the same – but not identical – to those that expired at the end of 2007, and begin again on January 1, 2009.

Taxpayers who claimed some but not all of the $500 federal income tax credit for energy efficiency home improvements that was in effect in tax years 2006 and 2007 may utilize the unused portion in 2009, the IRS has informed the Alliance to Save Energy.

To read more click here.

[Tom Raymond]

That's just peachy! 700 billion for Wall St, tens of billions for the Automakers, and a measley 500 bucks for the taxpayer. They should have fixed this program before they brought it back from the dead.

Tom

I can't wait for January.

[Chad Fabry]

President Bush has signed into law new consumer tax credits for energy efficiency home improvements, as well as purchases of plug-in hybrid vehicles.

Great idea, plug a car into a nice coal burning electric plant. Figure in losses at the plant and through transmission and it isn't a bright idea.

It's almost as smart as subsidizing ethanol.