Well, it looks like our Government is gearing up to spend more money (that we don’t have by the way). President Obama has proposed a new program that has been dubbed “Cash For Caulkers” that could send some serious cash your way.
What Is Cash For Caulkers?
First and foremost let me say that this program has not been enacted as of today. It is currently being drafted up in Congress and could change (as most bills do) before the final product is passed. It is also only a small part of a much larger plan to help stimulate the economy.
Basically, this proposed program will reimburse homeowners for energy-efficient appliances and insulation purchases. Big-ticket items such as washers, dryers, air conditioners, refrigerators, windows, and insulation would likely be covered. The bill may allow for a 50% rebate on energy-efficient purchases up to $12,000. That means you can buy $24,000 worth of products for only $12,000. Not a bad deal if you want to redesign your kitchen/laundry room!
According to a CNN Money article, homes that take advantage of this offer could see their home energy bill decline by 20%.
Should You Take Advantage of It?
Since my wife and I don’t own a home, we probably won’t be taking advantage of this program. However, we know several people who could use some new appliances.
One thing to consider is the cost to taxpayers. After helping bail out banks, buying clunkers, becoming an owner in General Motors and helping first-time home buyers, I’m not sure if I want to help you buy a new refrigerator. Estimates put the total cost of the program around $12 billion.
How do you feel about this program? Would you take advantage if given the chance? Do you want your congressman to vote “no” on the bill?
Our central air is getting old, new system about $8,000 each (two systems). I’d jump at this deal. Both have needed repairs that are getting more expensive.
.-= JoeTaxpayer´s lastest post ..Mind Mapping =-.
i don’t like these kind of government programs because they inflate the cost of the products. the dealer/installers can raise the price of the products but you still think you are getting a good deal because of the tax break. it isn’t real growth in the economy.
I think I read somewhere that the companies that produce the products will also receive some type of rebate. If they increase prices AND accept the rebate, I think I’ll be a little peeved.
I think this is a good idea and if it’s retroactive, I will certainly be taking advantage. I got all my energy efficient appliances and upgrades on my house last year.
I think it may cost some money but will help to lower our power usage as a nation.
.-= Jesse´s lastest post ..How to Re-Gift With Grace =-.
aren’t they making people claim that $4500.00 on the 2009 income tax?
Pingback: Carnival of Personal Finance #235: The Cinderella Edition | Well-Heeled, with a mission
I feel about this the same way I do about the first-time home-owners deal. I’m not in favor of it, but if I qualify, I’ll take the money. (I bought an energy efficient washer this summer, so I hope it’s retro-active!)