Van Hollen Votes to Create Jobs and Reduce Energy Costs

Press Release

Van Hollen Votes to Create Jobs and Reduce Energy Costs

Today Maryland Congressman Chris Van Hollen, Assistant to the Speaker, issued the following statement on House passage of the Rural Energy Savings Program Act:

"Today, I joined my colleagues in the House in voting to pass the Rural Energy Savings Program Act. The program will enable rural electric cooperatives to borrow money from the USDA Rural Utilities Service to fund voluntary and cost-effective energy efficiency upgrades for the citizens they serve -- it will both create jobs and reduce energy costs.

"This legislation also creates the Home Star Energy Efficiency Loan Program, which is designed for those citizens not served by rural electric cooperatives. Under this companion measure, which tracks the National Home Energy Savings Revolving Fund legislation I introduced earlier this Congress, states would be able to borrow federal funds they could then make available to electric utilities and other entities capable of administering a loan program for cost-effective residential energy efficiency retrofits. As part of our Made in America agenda, it is estimated that 92 percent of the products and materials that would be used in the Home Star Program are manufactured in the United States.

"This is a common-sense, forward-looking bill that will meaningfully advance America's clean energy future and create good paying American jobs."

BACKGROUND:

*The Rural Star and Loan Star Programs will offer homeowners and farmers loans of about $3,000 to $7,500 to eliminate the upfront cost of home energy upgrades, which customers can then repay over 10 years on their electric bill -- with their energy savings from the renovations covering most of the cost of the loan.

*These programs will boost demand for energy efficient products, materials, and construction and installation services that are made in America.

* The Rural Star Program is estimated to create 20,000 -- 40,000 jobs per year, with the The legislation is fiscally responsible, as all of the loans will be repaid to the federal government, and is fully compliant with PAYGO, according to the Congressional Budget Office.

*This bipartisan legislation is supported by business, environmental, and consumer groups -- National Association of Manufacturers, National Rural Electric Cooperatives Association, National Association of Realtors, National Association of Home Builders, Alliance to Save Energy, Home Star Coalition, Third Way, Retail Industry Leaders Association, and National Lumber & Building Material Dealers Association.

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