HIRE Act continues to move forward in Washington Article Number : 4866

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Date	9/21/2009 8:08:58 AM
Written By	LGM & Associates Technical Flooring Services
View this article at:	//floorbiz.com/BizResources/NPViewArticle.asp?ArticleID=4866
Abstract	By Steven Feldman The Home Improvements Revitalize the Economy Act of 2009, more commonly referred to as the HIRE Act, continues to move forward, if not at a breakneck pace. The bill was introduced in the House of Representatives on July 29 by...
Article	By Steven Feldman The Home Improvements Revitalize the Economy Act of 2009, more commonly referred to as the HIRE Act, continues to move forward, if not at a breakneck pace. The bill was introduced in the House of Representatives on July 29 by congressmen Henry Johnson (D-Ga.) and Nathan Deal (R-Ga.) and assigned to the Committee on Ways and Means (FCNews, July 6/13). The HIRE Act is designed to stimulate purchases of home furnishings and building products by providing tax incentives for consumers and businesses. Eighteen associations have joined the bill’s umbrella supporter, the American Home Furnishings and Buildings Products Coalition, including two new flooring-related shooters, the Marble Institute of America and Oriental Rug Importers Association. The coalition’s initial members included the World Floor Covering Association (WFCA), Resilient Floor Covering Institute (RFCI), National Wood Flooring Association (NWFA) and Carpet & Rug Institute (CRI). According to Chris Davis, CEO of the WFCA, the fact that it was assigned to the House Committee on Ways and Means is to the bill’s benefit. “Eventually it has to wind up there because that is the equivalent of the Senate finance committee. “When it gets out of Ways and Means it goes directly to the floor for a vote. That is much better than having it bounce around five committees first. We have been able to go the most direct route.” That’s not to say there aren’t issues that could impede the bill’s momentum. “For starters, Congress just got back in session, and obviously its focus has been on things like health care,” Davis said. “So it’s more a matter of trying to get these guys interested in things staring them in the face.” Second, there has to be a companion bill in the Senate. “Right now we do not have a champion in the Senate,” he said. “There has been an effort to identify a champion, and part of it is, if it looks popular in the House, it is more likely to get introduced on the Senate side. That’s what we have been working on.” Grass roots WFCA is also encouraging its members to write letters to their local congressmen in support of the HIRE Act—and it is making it as easy as possible. Anyone can log on to wfca-pro.org and click on its Legislative Action Center. Simply enter a ZIP code for the name of the local congressman. The system will automatically generate a pre-written letter to that congressman in support of the bill. There is also an option to customize the letter, which can be emailed or printed out to be faxed or mailed the traditional way. “There is nothing more effective than grass roots constituent communication, and we need to encourage everyone to continue sending these communications to their elected representatives,” Davis said. He noted you do not have to be a member of the WFCA to utilize the tool. Just to recap, the legislation would provide: • A tax deduction up to $2,000 per family ($1,000 per individual) for the purchase and/or installation of qualifying-home furnishings or building products for families making up to $300,000 a year ($150,000 for individuals) • A tax credit up to $500 per family ($250 per individual) for the purchase and/or installation of qualifying home furnishings or building products for low-income families and individuals, and, finally • A tax credit up to $10,000 for contractors and retailers for the purchase of qualifying home furnishings or building products for resale. The legislation would also provide a $2,000 individual credit and $4,000 joint credit to consumers for the purchase of covered products meeting LEED, Green Globes, FloorScore or other recognized environmental standards.