Senate Democrats’ month-long effort to pass a package of important tax credit extensions and unemployment benefits collapsed Thursday evening. Senate Finance Chairman Max Baucus (MT-D) has spent weeks modifying tax hike provisions, cutting spending and adding offsets to sway three moderates – Republican Susan Collins and Olympia Snowe of Maine and Democrat Ben Nelson of Nebraska. In the end, all three refused to support the legislation.
Specific to our industry, the legislation extends important tax credits for manufacturers who build ENERGY STAR homes eligibility to receive a $1,000 tax credit while modular home builders are eligible to receive a $2,000 tax credit by exceeding the International Energy Conservation Code (IECC) by 50 percent.
These credits expired last year, and MHI will continue to work aggressively to extend the tax extensions for all of 2010.
MHI members can contact Rae Ann Bevington at firstname.lastname@example.org.