Rep. Billy Long (R-Missouri) toured Regal Beloit's manufacturing plant in Springfield, MO, on June 10, 2011. In addition to introducing Rep. Long to their operation and issues relating to the HVAC industry, representatives from Regal Beloit explained the history of the 25C energy efficiency tax credit.
Paul Lin, manager of corporate energy marketing programs for Regal Beloit, explained the positive impact on employment at the plant with the 25C tax credit.
According to Lin, Regal Beloit presented the following proposal to Rep. Long:
Extend the residential tax credit for upgrades to items such as water heaters, furnaces, air conditioners and heat pumps for an additional two years.
Reset the lifetime cap per filer to allow for additional upgrades.
“We're advocating for the extension of these tax incentives as well as resetting the lifetime cap so that previous homeowners who had upgraded windows or doors can qualify for the tax credit to upgrade their HVAC systems,” said Lin. “Extending the tax incentives provides an ongoing stimulus in the HVAC industry that creates jobs and also encourages homeowners to upgrade to higher efficiency systems.”
Visit www.regal-beloit.org for additional information.