Chuck Grassley: “the amendment No. 274 would reduce the efficiency credit by $1.8 billion--that is almost half the tax benefit for these…”

“the amendment No. 274 would reduce the efficiency credit by $1.8 billion--that is almost half the tax benefit for these energy efficient home improvements. The principal defect of this change will be felt in the emerging high-energy efficiency market. As anyone with conventional windows in this cold winter knows, inefficient windows suck a lot of heat out of a home. Moreover, the tax benefit shifts, in part, to electric plug-in motorcycles, three wheelers, and golf carts. Does this make sense? However, there are a couple provisions I am glad to see are included. For instance, I am glad to see that the depreciation schedule for smart meters was cut from 10 to 5 years. Also, I am glad to see that businesses that make real plug-in electric cars--I don't support it for those that make golf carts, three wheelers, or motorcycles--can expense manufacturing facilities that make these cars.”