House passes 'Cash for Caulkers' bill

The U.S. House of Representatives passed Thursday a new program, dubbed "Home Star," designed to help homeowners reduce their energy bills through efficiency upgrades while providing jobs in the construction industry.

The House bill establishes a new program that provides grants to homeowners for weatherizing their homes. Two paths are provided:

• • a "silver star" path that has $250-$1,500 incentives for a variety of specific energy saving measures, up to a maximum of $3,000 per home, and
• • a "gold star" path that provides incentives of $3,000-$8,000 per home for comprehensive packages of energy-saving measures (incentives increase as energy savings increase).

The American Council for an Energy-Efficient Economy issued a statement that it estimates the bill will generate over 160,000 jobs and reduce consumer energy bills by more than $1 billion annually.

The Home Star bill, passed 246-161, would authorize $6 billion over two years for the program. Opponents to the bill have attached a condition that it would be terminated should the money not be found to fund it.

President Barack Obama has promoted the bill, which also needs Senate approval.