Cash for Caulkers: Is it worth your money?

May 10, 2010 05:05

As it stands now, the bill is not paid for (what is these days?), and under House Rules, it must be. Welch says, he’ll recommend that the $6 billion come from unallocated stimulus dollars.

by: Jessica Weinstein at

If you’d like a chance to make your home more energy-efficient on the government’s dime, listen up. In the latest congressional attempt to create green jobs, the U.S. House of Representatives passed a bill Thursday to offer thousands of dollars in rebates to homeowners who want to weatherize and renovate their homes. It’s officially called the Home Star Energy Retrofit Act but is better known as “Cash for Caulkers.” The legislation authorizes $6 billion of your tax dollars for the program. Congress won’t find a way to pay for it until after the bill passes the U.S. Senate.

You can find out how much Home Star would cost you, by visiting FOX News’ Taxpayer Calculator where we break down the bill’s cost to you by your tax bracket.

The bill has two parts. The Silver Star program provides immediate rebates of up to $3,000 for specific energy-efficient improvements in a home, such as installing duct sealing, insulation or new windows.

A second Gold Star program would allow people access to rebates of up to $8,000 when they conduct comprehensive energy audits and implement measures that reduce energy use throughout their homes by more than 20 percent.

Chief sponsor, Rep. Peter Welch,D-Vt., tells FOX News it will create 168,000 jobs in the construction and manufacturing industries while helping homeowners save money and make their homes more energy-efficient.


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