That provision, which in last year's version required homes to exceed the 1993 Model Energy Code by 50 percent to qualify for the credit, was strengthened to provide smaller-value credits for houses that beat the 1998 International Energy Conservation Code by 30 and 40 percent. This version is a significant step in the right direction. If you don't get the attention of builders because the bar is too high, there aren't going to be efficient houses out there to purchase. Hamilton indicated that Thomas is currently revising his legislation for reintroduction. Nemtzow pledged to work with the President and his staff to gain support for the package in Congress.
Tax credits are a market approach to helping solve the problem of climate change.
This is a small amount of money dedicated to a huge problem. Hopefully, some of those members who fear mandated reductions down the road will acknowledge the wisdom of employing market approaches in the near term.