Congressman Hodes announces support for G.R.E.E.N. Act

For Immediate Release

April 22, 2008

Contact:        Mark Bergman

                202-225-5206 (office)

                202-557-9979 (cell)

Congressman Hodes announces support for G.R.E.E.N. Act

Washington, DC--- Today, Congressman Paul Hodes announced with Congressman Ed Perlmutter of Colorado new legislation at the Center for American Progress to encourage giving incentives to lenders and financial institutions to provide lower interest loans and other benefits to consumers who build, buy, or remodel their homes and businesses to improve their energy efficiency.

The legislation will allow American business and families to be part of the 21st Century Energy solution by using incentives and market mechanisms to inspire the financial community to give loans for energy efficient buildings and homes.

This timely legislation reflects foresight and the considered input of a broad coalition of housing advocates, financial institutions, government leaders, developers, and the environmental community.

“Green is the new red, white and blue,” Congressman Hodes said. “Protecting our environment and creating a new national energy strategy is the biggest challenge of our time. Conserving energy will not only keep our air and water clean, but it will help reduce our dependence on foreign oil.”

States like New Hampshire are leading the way to reduce the effects of global warming. In fact, 164 New Hampshire towns, nearly 70% of all towns in the state, have passed a resolution urging Congress and the President to take action on the issue of global warming.

“States are stepping up to address the challenge and now it is time for Washington to answer the call. But, we have seen this administration do nothing more than give empty rhetoric to this important issue. We need to restore true leadership to Washington that will pay more than lip service to the greatest challenge of our generation,” Hodes concluded.

Congressman Hodes also has sponsored energy tax credits for residents that burn biomass fuel, an energy source that is plentiful in New Hampshire.

Key Provisions in the Bill Include:

Fannie Mae / Freddie Mac:

        Will be required to finance energy efficient and location efficient mortgages as part of their goals to satisfy federal guidelines.

        Such as buildings near mass transit

        Building using established energy efficient standards, products and materials 

        They will receive additional credit (125%) if they comply with the energy efficiency goals and support housing that complies with standards established in the legislation.

Urban Development:

        Similar to the CDBG (Community Development Block Grant) program the legislation creates a Residential Energy Efficient Block Grant Program.

        Grants shall be given to local communities and states to carry out energy efficiency improvements in new and existing single and multifamily housing units.

Insurance Component:

        Insurance companies are not allowed to deny insurance to homes in which power, heat or electricity is provided from renewable energy sources and is not connected to any power grid.

        This does not prevent insurance companies from charging necessary rates. 

Financial & Banking Institutions:

        Create green banking centers to provide consumers information on obtaining a mortgage or loan which rewards energy efficient or “green” improvements.

        Alters the Community Reinvestment Act by allowing financial institutions to consider energy efficiency improvements made by low income, first time and other home buyers when appraising and assessing the home or building.

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Remarks at the Center for American Progress 4/22/08

Washington, DC

I want to thank Mr. Permultter for working with me on this important issue. We worked together to imagine new ways to approach reducing greenhouse gases. It has been the leadership of this freshman class in Congress, the Majority Makers that has really moved the ball forward on taking proactive steps towards combating global warming.

My constituents in New Hampshire are environmentally conscious as are Ed’s in Colorado. Both states are places where the mountains, forests, lakes and rivers are essential to the character, quality of life and our economies.

We feel a special kinship in drafting legislation that will help lead this country to a rational and progressive 21st Century Energy policy. Since coming to Congress, I have seen that American industry and entrepreneurs are ready to invent and invest for the nation's future. What has been lacking is leadership from the federal government, but we have made progress in one short year. We passed into law H.R. 6, the major energy bill that increased efficiency standards for vehicles and appliances, established a new green job training program, required new studies for grid efficiency.  This bill also included federal building efficiency language that I worked on with Chairman Waxman. The House also passed a series of tax incentives for renewable energy, including a three year extension of the production tax credit, as well as a version of my biomass heating tax credit bill. We also passed legislation increasing penalties for price gouging on oil and gasoline.

Protecting our environment and creating a new national energy strategy is the biggest challenge of our time. Conserving energy will not only keep our air and water clean, but it will help reduce our dependence on foreign oil. That dependence is drawing us into endless conflicts in the Middle East and higher gas prices that are disrupting our economy.

        This legislation will encourage American business and American families to be part of a 21st Century Energy Solution by using incentives and market mechanisms to inspire the financial community to go green.                                                                                                                                             

        Green is the new red, white and blue. In World War Two, our nation was able to sacrifice for our troops by conserving resources for our soldiers fighting to preserve freedom and defeat fascism. Our nation banded together when President Kennedy challenged us to land a man on the moon and we did. Now, we are faced with a seemingly insurmountable challenge. How are we going to create an energy policy that will protect our nation, grow our economy, and preserve our planet? It will require the bold leadership, sacrifice, and ingenuity that Americans have displayed for centuries.  

        We can do this if we rededicate ourselves to fulfilling the promise and answering the challenge to build a 21st Century Energy Plan.

If we are to succeed, it must be more than just talk. It has to come from dedication from our leaders in Washington, leaders in the business community, and everyday Americans to transform our nation.

Our nation has become aware of the dangers of unchecked greenhouse gas emissions, and citizens have responded.  The United States Green Buildings Council has developed the Leadership in Energy Efficient Design, or LEED, standards, that have helped new facilities across the country conserve energy on an unprecedented scale. 

My home state of New Hampshire is one of ten states that has formed the Regional Greenhouse Gas Initiative in the Northeast, to reduce carbon emissions through a credit trading system.  The New Hampshire economy is already feeling the affects of global warming on our ski season and maple syrup industry. It’s why 164 New Hampshire towns, nearly 70 percent of all towns in the state, have passed a resolution urging Congress and the President to take action on the issue of global climate change.

Last spring, New Hampshire passed a Renewable Electricity Standard of 25% by 2025.  To meet this goal, New Hampshire is working to upgrade its transmission system and get more renewable energy production sites onto the grid. 

States are stepping up to address the challenge and now it is time for Washington to answer the call. But we have seen this administration do nothing more than give empty rhetoric to this important issue.  States around the country are asking this administration to allow them to increase environmental standards and are being turned down. The White House even intervened with the EPA to have them lower environmental standards for our nation. We need to restore true leadership to the White House that will pay more than lip service to the greatest challenge of our generation.

This legislation is a step in a new direction for our nation and first step toward accepting the challenge of a 21st Century Energy Plan. We have new strong leaders in the 110th Congress like Mr. Perlmutter who are helping lead the way on this vital challenge for nation’s future, and I hope you will join us too.

Thank you.