MIA Joins Coalition For HIRE Act of 2009 For Home Furnishings & Building Products
The MIA, Marble Institute of America, has joined forces with the building products and home furnishings coalition to support the passage of the 2009 HIRE Act, H.R. 3382, introduced by Rep. Hank Johnson of Georgia. The HIRE Act would provide consumers tax deductions and credits for the purchase of home furnishings and building products used for home improvements for qualified income families.
According to Gary Distelhorst, Executive Vice President of the MIA, “The HIRE Act can provide a strong stimulus for the remodeling industry nationwide.” Those people that would otherwise forgo spending in 2009, would be more apt to spend money for home improvements with the passage of the bill.
According to the MIA Press Release on the subject, The HIRE Act of 2009 would provide the following for the next 3 years (2009-2011):
- A tax deduction of up to $2,000 per family ($1,000 per individual) for purchasing qualifying furnishing or building products for families making up to $300,000 a year ($150,000 for individuals).
- A tax credit of up to $500 per family ($250 for individual) for purchase of qualifying product and/or installation of home furnishings or building products for low income families.
- A tax credit of up to $10,000 for contractors and retailers for the purchase of qualifying home furnishings or building products for resale.
- A doubling of applicable tax deduction or credit for the purchase and/or installation of qualifying home furnishings or building products, which meet environmental standards.
Thanks for reading!
Barb
Posted in Granite, Industry News on September 1st, 2009 by Barb | | 0 Comments
