There is nothing like burdening homeowners with extra costs right at the time that home price drops are starting to slow down.
Home Sellers Beware. Having a hard time selling your home? Here’s one more hurdle to jump: all homes sales are conditioned upon an energy audit and a new energy rating assessment and energy labeling program for your home that’s outlined in the Democrats’ bill. And if you thought you could improve your property with a fresh coat of paint and some granite counters? Think again! Now your home will be subjected to a new energy rating assessment and energy labeling program that will penalize you for older windows, original fixtures, and dated appliances. So the Democrats’ bill would bring down the value of your home!
So if you are already underwater and want to sell your home Cap and Tax will put you a few $1000 more underwater just to sell your home. Sounds like some real unintended consequences.
Here is the text of the stupid bill that they passed so even more nuggets can be mined from its 1300 pages. I'm glad Congress loves to vote on things that they don't read. I guess they will have plenty of time to read it when they are out of office. I sincerely hope that that is what happens to the 8 GOP members that voted for economic ruin. This is the list of the Cap and Tax 8 and their office numbers:
Mary Bono Mack (CA) (202) 225-5330
Mike Castle (DE) (202) 225-4165
Mark Kirk (IL) (202) 225-4835 (And he’s seriously considering running for Senate!)
Leonard Lance (NJ) (202) 225-5361
Frank LoBiondo (NJ) (202) 225-6572
John McHugh (NY) (202) 225-4611
Dave Reichert (WA) (202) 225-7761
Chris Smith (NJ) (202) 225-3765
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