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Energy Efficiency Refund
- — February 8, 2006
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- transcript
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Recently, I have introduced a plan that allows individuals to deduct up to 50 percent of what they spend on making their homes energy efficient. This includes installing a more energy efficient furnace, resealing or installing new windows, or installing a computerized thermostat. Those families earning up to 300 percent of the poverty level, or $58,050 in 2005 for a family of four, are eligible for this deduction when making these energy efficient changes. Up to $5,000 can be deducted per year. We must give real assistance to our struggling families dealing with skyrocketing heating costs and this plan does just that. The deduction would be assessed when Michigan is in the midst of a home-heating emergency and this plan will bring much-needed relief this winter and in winters to come.
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