American Clean Energy And Security Act and Real Estate Part 2

By
Real Estate Agent with ReeceNichols Realtors

Beginning 1 year after enactment of the Cap and Trade Act, you won’t be able to sell your home unless you retrofit it to comply with the energy and water efficiency standards of this Act. H.R. 2454, the “Cap & Trade” bill passed by the House of Representatives, if also passed by the Senate, will be the largest tax increase any of us has ever experienced.

The Congressional Budget Office (supposedly non-partisan) estimates that in just a few years the average cost to every family of four will be $6,800 per year. No one is excluded. However, once the lower classes feel the pinch in their wallets, you can be sure these voters get a tax refund (even if they pay no taxes at all) to offset this new cost. Thus, you Mr. and Mrs. Middle Class America will have to pay even more since additional tax dollars will be needed to bail out everyone else.

Comments (1)

Glen Fisher
National Property Inspections of Southern New Jersey, LLC - Oaklyn, NJ

This bill will kill resales on older homes.  In fact, once this bill becomes law I expect the appraisal industry to immediately reduce the value of all homes that do not meet the standards of this new Cap and Tax Act. 

Jan 05, 2010 07:55 PM