Rules and Regulations

Lower Tax Credits

Well, here’s the bad news: the new federal tax bill signed into law by President Obama just cut the tax credits that homeowners were gaining for energy-efficient remodeling in their homes. The credits were cut from 30 percent of an improvement’s cost (with a maximum of $1,500 per taxpayer) down to a 10 percent credit (with a maximum of $500).

To say I’m disappointed is an understatement and I had a chance to voice my opposition to the cuts in the Washington Post’s recent article entitled “Remodelers decry cut in tax credit for energy savings”.

Now here’s the good news: I remain hopeful and confident that both homeowners and remodelers will find energy-efficient solutions for remodeling projects. New energy-friendly products and services come onto the market every day and I’m excited by the continual progress in this area. Merrick Design and Build stays current with these trends through our affiliation with NARI, ongoing training and via a variety of industry sources.

Care to discuss your concerns or comments regarding this topic? Contact me at (301) 946-2356.

David Merrick

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