rockin'robin
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Taxpayers in warm states, like Florida and Arizona would end up subsidizing much of the cost of winter home heating for residents of cold-winter states under a bill just introduced by US Congressman Paul Hodes, from the very cold state of New Hampshire.
Rep. Hodes bill, Heating Energy Assistance Tax Credit Act of 2009 (HR 3958), would provide a potential 100-percent tax credit -- up to $1,000 for and individual or $2,000 for a couple -- as a reimbursement for their home heating expenses.
While Hodes' bill does impose income caps, even couples making as much as $200,000 per year would be eligible for a $500 tax credit for home heating costs.
According to Rep. Hodes, the Department of Energy estimated that households in the cold Northeast states will pay an average of $1,135 for natural gas, $1,892 for heating oil, $1,455 for electric heat and $2,236 for propane from October 2009 through March of 2010. However, the Energy Department also projects that heating costs nationwide for the same October thru March winter period will actually be 8 percent lower than last year, averaging $960 per household.
"Last year, thousands of Granite Staters (New Hampshire residents) struggled to keep up with their heating bills during a cold winter and a difficult economy," said Rep. Hodes in a press release. "This legislation will ease the financial strain for working families who are juggling heating bills, a mortgage, and rising health care costs. The first snow has already fallen in New Hampshire and relief for working families cannot wait."
Watch Out, Warm State Residents
Rep. Hodes bill, Heating Energy Assistance Tax Credit Act of 2009 (HR 3958), would provide a potential 100-percent tax credit -- up to $1,000 for and individual or $2,000 for a couple -- as a reimbursement for their home heating expenses.
While Hodes' bill does impose income caps, even couples making as much as $200,000 per year would be eligible for a $500 tax credit for home heating costs.
According to Rep. Hodes, the Department of Energy estimated that households in the cold Northeast states will pay an average of $1,135 for natural gas, $1,892 for heating oil, $1,455 for electric heat and $2,236 for propane from October 2009 through March of 2010. However, the Energy Department also projects that heating costs nationwide for the same October thru March winter period will actually be 8 percent lower than last year, averaging $960 per household.
"Last year, thousands of Granite Staters (New Hampshire residents) struggled to keep up with their heating bills during a cold winter and a difficult economy," said Rep. Hodes in a press release. "This legislation will ease the financial strain for working families who are juggling heating bills, a mortgage, and rising health care costs. The first snow has already fallen in New Hampshire and relief for working families cannot wait."
Watch Out, Warm State Residents
