One-time $500 tax credit that could save you another $500 every year
Energy-efficiency home improvements not only reduce your carbon footprint but can also save you money on your utility bills, perhaps as much as $500 a year. Uncle Sam is throwing in an added bonus to upgrading your house with “green-minded” home improvements, a one-time tax credit of up to $500.
On Tuesday, the US Environmental Protection Agency expanded its Energy Star program to include six additional home improvements, including EV chargers, heat pumps for air and water, smart thermostat controlers, attic insulation and ENERGY STAR certified windows and storm windows.
Sen. Bennet offers compromise to salvage Child Tax Credit expansion
Senator Michael Bennet has been one of the leading advocates in the upper chamber to extending the changes made to the Child Tax Credit for 2021. Axios reports that Bennet is willing to lower the income eligibility limits in order to win over Senator Joe Manchin who has expressed concern that the program isn’t targeted among others.
Manchin would also like to see a work requirement in order to claim the credit, something that Bennet and other Democrats are trying to avoid.
The inclusion of a one-year extension has been on of the major sticking points in the negotiations to pass the Build Back Better Act, which Manchin said was “dead” on Tuesday.
