The National Electrical Manufacturers Association (NEMA), Rossyln, Va., and the American Institute of Architects (AIA), Washington, D.C., have called on Congress to increase the Energy Efficient Commercial Building Tax Deduction from $1.80-per-square-foot to $3-per-square foot to help stimulate immediate job creation.
According to NEMA President and CEO Evan R. Gaddis, the increase would provide a valuable job-stimulating incentive to retrofit and renovate existing commercial buildings. “This tax incentive has a proven record of success in supporting thousands of construction, electrical, design, contractor, and manufacturing jobs prior to the recession. An increase is needed to address tight capital and other financing issues facing building owners. This is the type of measure that fits with the outlines of President Obama's jobs stimulus announcement on December 8, 2009,” Gaddis said. NEMA press release