by jbs091308 d3 — September 15, 2008—The Energy Efficient Commercial Buildings Tax Deduction, a federal incentive that provides a deduction of $1.80 per square foot for the design and construction of energy efficient commercial buildings, is set to expire at end of 2008. As Congress returns for a four-week period before the November elections, the American Institute of Architects (AIA) is strongly encouraging the extension of this deduction beyond 2008.
Extending tax incentives for commercial construction will provide an immediate stimulus to the design and construction industry, says AIA. The design and construction industry reportedly accounts for nearly one in ten dollars of United States GDP, creates millions of jobs, and supports millions of small businesses. AIA says that Congress must pursue policies to help invigorate the building sector in order to help get America’s economy back on track.
In addition, AIA notes that earlier this summer, the House of Representatives approved a bill that would provide billions in federal dollars for the modernization, renovation, and repair of schools across America. AIA says that this legislation, the 21st Century High-Performing Public Schools Facilities Act (HR 3021), should also be passed by Congress this fall.
AIA says that HR 3021 will direct billions in federal funding to states and local education agencies to revitalize aging schools across the country, stimulating the creation of thousands of design and construction jobs. Passing school modernization funding will help energize the building industry and create economic activity in all 50 states, asserts AIA, while also creating better learning environments for students nationwide.
For more information about AIA’s sustainability initiatives, visit the organization’s Walk the Walk Web site.
