New Push Starting for Home Improvement Tax Breaks

LaGrange, GA, June 18, 2009--The Resilient Floor Covering Institute is joining several other organizations to push for tax incentives through 2011 for the purchase of home improvement materials such as floor covering.

The legislation would also double the deduction for individuals who purchase materials that are certified green by groups such as FloorScore.

The proposed legislation, call the Home Improvements Revitalize the Economy Act of 2009 or Hire Act, would provide a $2,000 individual deduction and $4,000 joint deduction to consumers for the purchase of covered products meeting LEED, Green Globes or other recognized standards. FloorScore certified products would also qualify. Families making up to $300,000 would be eligible.

Also, residential retailers, contractors and building products resellers could receive up to $10,000 in credits for covered purchases.

Other groups backing the legislation include the Carpet and Rug Institute, World Floor Covering Association and National Wood Products Association.

Congressman Hank Johnson (D-GA) has agreed to introduce the proposed legislation.