Are there any Green Tax Credits or Incentives in the Build Back Better Bill for Existing Buildings? LED Retrofit, HVAC Upgrades, Insulation, Etc
I was wondering if anyone looked into what the 320 billion dollars in the bill is being spent on. Is there any incentives to do Green Energy upgrades to existing buildings?
[{"id": "hlxqm2c", "text": "There\u2019s little to no chance of BBB passing.", "replies": [{"id": "hlxyhqd", "text": "Absolutely not true, pretty good odds of passing.\n\nEdit: if you don\u2019t believe it, look at predictit, betting market is at 67% chance of passing by Christmas.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hly1v7i", "text": "God I hope BBB doesn\u2019t happen and we don\u2019t have to find out. \n\nThat said I was with someone in senior house dem leadership about a month ago and they couldn\u2019t give a straight answer on what will or won\u2019t be in BBB or how it gets allocated. It\u2019s a \u201cwork in progress\u201d so who knows, maybe they will maybe they won\u2019t. Maybe your state gets some maybe it doesn\u2019t. Really depends on the power of your states congressional delegation to get the money for your state. And that\u2019s assuming it even happens, and right now it looks pretty DOA.", "replies": [{"id": "hlyd759", "text": "Not looking to internet fight with you but what is about the bbb you don\u2019t like?", "replies": [{"id": "hlynjlp", "text": "I can't speak for the person above you, but, most rational people don't care for the fact that it's an \"infrastructure bill\" but less than 10% of the money being spent is going towards infrastructure.\n\n(Sadly, the left will believe everything they're being told about the bill).", "replies": [{"id": "hlyskpv", "text": "Is there any part of the bill you don\u2019t like other then it\u2019s not \u201c infrastructure\u201d?", "replies": [{"id": "hlz7g34", "text": "Yes.  I hate all the things in it that aren't infrastructure.\n\nI would prefer that a bill touted as \"an infrastructure bill\" would actually fund infrastructure.", "replies": [{"id": "hlzfyho", "text": "Ok", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}, {"id": "hlysmky", "text": "Is there any part of the bill you don\u2019t like other then it\u2019s not \u201c infrastructure\u201d?", "replies": [], "depth": 4}, {"id": "hlyzjfe", "text": "It\u2019s a \u201chuman infrastructure\u201d bill. Cool, so is the unfunded social security obligation.", "replies": [{"id": "hlz7ig5", "text": "Huh?", "replies": [{"id": "hlz8d6t", "text": "It\u2019s branded as a \u201chuman infrastructure\u201d bill or some such nonsense to link it to actually building stuff rather than like, additional entitlement programs. I guess my point is that spending money on long term programs like this is just adding to long term government liabilities when we already have a massive SS cliff coming our way.", "replies": [{"id": "hlz8jmj", "text": "No argment there.", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}, {"id": "hlzlscc", "text": "It\u2019s not unfunded, they have pay-fors for all the new programs.", "replies": [{"id": "hm0g4ub", "text": "&gt;It\u2019s not unfunded, they have pay-fors for all the new programs\n\nJust like every other spending bill ever. Yet somehow our deficit continues to grow.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "hlyzer5", "text": "Hey there\u2019s nothing like internet arguments - just look at the downvote parties on r/politics!\n\nI\u2019m seriousness I\u2019m deeply concerned about the level of federal deficit spending starting with the trump tax cuts, juiced by several rounds of stimulus that was poorly thought out / rip off of act (come on, paying people more in unemployment than their prior wage rate? Giving checks to everyone with an AGI under $150k? The PPP scam?) that weren\u2019t fixed in subsequent rounds, and now BIF. I appreciate that early COVID was a lot of panic but Trump tossed on the printing press and Biden didn\u2019t shut it off until long after it should have been. So like, who\u2019s going to pay for all of this stuff we\u2019ve already spent?\n\nNow let\u2019s toss on BBB which is a poorly communicated \u201chuman infrastructure plan\u201d which at its core is a set of entitlement programs - unlike the late Trump / and spent Biden nonsense, this isn\u2019t sunk cost - it\u2019s going to be around forever. Once an entitlement program is in place it\u2019s here for forever. The bill has been kicked around so many times I don\u2019t think anyone in congress could tell you what\u2019s actually in it other than some vague platitudes about how it makes America more competitive. How?\n\nAt this point it feels like the most vocal members of the progressive caucus (who are unelectable outside of their limousine liberal districts) have stolen the mic to shout about a bunch of stuff most people don\u2019t need or want. Would some of the loose plans proposed be nice to have? Sure, but too bad the wells run dry on government spending. \n\nUnfortunately our treasury secretary is an MMT Keynesian who doesn\u2019t believe inflation is possible, and the D caucus thinks that because Trump lost there\u2019s some like far left mandate. Neither of those are true- economics (at least for me) follows the UChi / neoclassical school (and Booth has like 5 Nobel laureates on the faculty so that has to count for something) where sustained deficit spending doesn\u2019t dig you out of a hole, it makes it worse. Also as evidenced in VA recently, the dems don\u2019t have a mandate and are likely set up for a trouncing in 2022 / 2024. \n\nOh and last but not least, before we spend money like drunken soldiers on leave, let\u2019s remember we have a massive unfunded social security and Medicare bubble coming up quick. Let\u2019s solve that problem first. \n\nAnyways long winded, TLDR we\u2019ve spent too much money and have other stuff we should spend money on if we can. Program isn\u2019t clear what it solves for other than creating more long term entitlement programs. Pull the plug (which is going to happen anyways if it ever makes it to the senate)", "replies": [{"id": "hlznghr", "text": "The BBB will add 16 billion to the deficit per year, or 0.07% of our annual gdp. \n\nOur average deficit pre pandemic was $1T, so adding 16 billion is a 1.6% increase. \n\nIt\u2019s a drop in the bucket, who cares. You are moron if you honestly think this changes anything in terms of over leveraging the country.\n\nAnd the bill has a ton of good stuff in it. Medicare will be allowed to negotiate drug prices, lowering costs. Paid family leave. Universal Preschool. Continuing the CT\u2019s program that has halved the child poverty rate. Insulin prices will be capped at $35 a month.", "replies": [{"id": "hm0zgzv", "text": "Sure and how\u2019s that getting paid for through reconciliation to keep it deficit neutral? No thanks, have to pay for SS in a few years.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hlyt1di", "text": "Oh you think it is *literally* about buildings.", "replies": [], "depth": 1}, {"id": "hm01o7a", "text": "Yes, the extension of Sec. 45L would create the possibility of a $500-$5,000 tax credit for the substantial reconstruction/rehabilitation of dwelling units (residential property). Hopefully with a 10 yr extension, the Treas dept will finally write the regulations to specify exactly what counts as substantial reconstruction or rehabilitation.", "replies": [], "depth": 1}]