President Obama Proposes Home Energy Retrofit Program for Job Creation
December 9, 2009
President Obama's jobs speech followed the Jobs and Economic Growth Forum, which the White House hosted on December 3.
President Barack Obama proposed a new rebate program on December 8 to reward homeowners for making their homes more energy efficient, while also proposing additional federal investments in energy efficiency and renewable energy. As part of a speech about jobs and the economy at the Brookings Institution in Washington, D.C., the president noted that home energy retrofits create jobs, save money for families, and reduce the pollution that threatens our environment. President Obama also called for aid to small businesses and new investments in infrastructure. Most of the president's proposals will require congressional approval.
President Obama's job plan calls for an expansion of select American Recovery and Reinvestment Act initiatives that promote energy efficiency and clean energy jobs. The president noted that one-third of the Recovery Act is intended for investments "to put Americans to work doing the work that America needs done," such as doubling the U.S. capacity for producing power from renewable energy. But most of those initiatives are oversubscribed, causing many strong ideas to go unfunded. With that in mind, the Obama Administration is supporting the expansion of programs for which additional federal dollars will leverage private investment and create jobs quickly, such as investments in industrial energy efficiency, as well as new or extended tax incentives for investing in U.S. manufacturing facilities for renewable energy technologies. See the White House press release and a transcript of the president's remarks.