A coalition of trade groups covering residential building products, floor coverings and furnishings announced it has been investigating ways on using a portion of the nation's economic stimulus package to jumpstart the building sector. Specifically, the group is advocating tax incentives to consumers, retailers and contractors for the purchase of building products, floor coverings and furnishings. Additionally, products that meet recognized environmental standards receive a double tax credit.
According to the coalition, Congressman Hank Johnson (D-GA) has agreed to introduce the proposed legislation. Called the Home Improvements Revitalize the Economy Act of 2009, or HIRE Act, the legislation would provide a $2,000 individual credit and $4,000 joint credit to consumers for the purchase of covered products meeting LEED, Green Globes, FloorScore or other recognized standards. Additionally, residential retailers, contractors and building products resellers could receive up to $10,000 in credits for covered purchases.
The Resilient Floor Covering Institute (RFCI) is joining with several other organizations -- including the Carpet and Rug Institute, World Floor Covering Association and others -- to encourage legislators to co-sponsor and support this bill. The coalition is also seeking help from manufacturers, retailers and specifiers to call, e-mail and write to their legislators and suggest co-sponsoring the bill. The bill will be introduced as soon as enough co-sponsors have been identified, the coalition said.
For more information, contact the RFCI at (706) 882-3833 or visit www.rfci.com.
Industry coalition seeks support for new stimulus bill
June 18, 2009