U.S. Treasury Secretary John Snow came to Richmond,
Va., on Feb. 24, 2006, to talk about the importance of energy efficiency in
the home and new tax credits that are available for just that use.
"Improving the energy-efficiency of our homes is a highly
effective ways of reducing our national energy consumption, which is a priority
that the President set forth in his State of the Union Address this year,"
Snow said.
Bob Fulton (R), Dominion’s weatherization
specialist, discussed several energy-saving tips with U.S. Treasury Secretary
John Snow during his Richmond visit.
Snow toured the home
of Charles and Martha Donato with Bob Fulton, Dominion’s weatherization
specialist, who demonstrated several energy-saving tips for the secretary,
the family and media.
The tax credits described by Snow are part of the Energy
Policy Act signed by President Bush last summer.
"There can be no question that energy savings should
start at home — and that's what these tax credits are all about,”
Snow said.
The Energy Policy Act of 2005 (Public Law 109-58) is a
statute which was passed by the United States Congress on July 29,
2005 and signed into law on August 8, 2005. The Act provides incentives
for traditional energy production as well as newer, more efficient
energy technologies and conservation. The Act has hundreds of provisions
and is more than 1,700 pages long.
During 2006, individuals can make energy-conscious
purchases that will provide tax benefits when filling out their
tax returns next year.
The new law provides tax
credits for making your principal residence, which
must be in the United States, more energy efficient and for buying
certain energy efficient items.
At the same time the law provides credits for
various types of alternative motor vehicles, including hybrids.
U.S. Treasury Secretary John Snow
(L) discusses home energy improvements with Charles Donato and Bob
Fulton.
Snow toured the home of Charles and
Martha Donato in Richmond, Va.
