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NRCA applauds introduction of bipartisan commercial roof depreciation reform bills

NRCA commends the introduction in Congress of bipartisan legislation that would create an estimated 40,000 jobs annually in the roofing and manufacturing sectors. The bills, H.R. 2962 and S. 1575, would reduce the depreciation recovery period for commercial roof retrofits from 39 to 20 years when they meet benchmark energy-efficiency standards. By rationalizing this provision in the tax code, this much-needed reform will allow building owners across the U.S. to more quickly replace older, failing roofs with newer, more energy-efficient roof systems.

In the House, Reps. Tom Reed (R-N.Y.) and Bill Pascrell (D-N.J.) formally introduced the Roofing Efficiency Jobs Act of 2011 (H.R. 2962) Sept. 15. Reed announced his plans to introduce the bill at a Sept. 1 press conference at NRCA member Upstate Roofing & Painting's office in Brighton, N.Y.

In the Senate, Sen. Ben Cardin (D-Md.) announced Sept. 19 introduction of the Energy-Efficient Cool Roof Jobs Act (S. 1575) at a press conference at NRCA member Kalkreuth Roofing and Sheet Metal in Frederick, Md. Cardin was joined by Sen. Mike Crapo (R-Idaho) in introducing the legislation.

In an effort to gather additional support for this legislation, NRCA will continue working to educate lawmakers regarding the obstacle to job growth posed by the current 39-year depreciation recovery period in the tax code. Although the outlook for consideration in Congress regarding potential jobs legislation and/or tax reform remains highly uncertain, this timely introduction of House and Senate depreciation reform bills positions the roofing industry to be considered if any tax or jobs legislation moves in Congress.

A video of Cardin speaking at the Sept. 19 press conference can be viewed by clicking here.

For questions or comments, please contact Duane Musser, NRCA's vice president of government relations, at dmusser@nrca.net, or Brandon Audap, NRCA's director of federal affairs, at baudap@nrca.net.

9/20/2011  

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