Thursday, February 3, 2011

President unveils energy efficiency plan

On Thursday President Obama laid out the first marker in his goal to increase energy efficiency in the Unites States. The plan, which he first discussed during the State of the Union speech focuses on making commercial buildings more efficient.

The Hill newpaper reported that "under the plan, the Small Business Administration will work to encourage lenders to give more financing for commercial retrofits. In addition, the administration will call on Congress to provide grants for local and state governments that streamline building codes and regulations as well as provide new tax credits for energy efficient buildings."

The Administration has not revealed the cost of this proposal, but did state that the cost would be offset by eliminating tax breaks to the oil and gas industry.

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