[vc_row bg_type=”bg_color” bg_color_value=”#f5f5f5″ css=”.vc_custom_1618938311697{margin-top: 0px !important;margin-right: 0px !important;margin-bottom: 0px !important;margin-left: 0px !important;padding-right: 1em !important;padding-left: 1em !important;}”][vc_column][vc_column_text el_class=”article-info”]by alliantgroup staff, Houston, TX (International Headquarters)
March 15, 2018 | published in /PRNewswire/[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
Rick Lazio, alliantgroup’s Senior Vice President and former U.S. Congressman from New York, testified before the House Ways and Means’ Tax Policy Subcommittee regarding expired tax provisions, including the Energy Efficient Commercial Building Deduction (Section 179D).
During the hearing, Lazio highlighted why the deduction was not only sound energy policy, but a vital incentive to the designers, engineers and contractors that help drive the American economy. Under Section 179D, building owners who make energy efficient improvements to a building’s envelope, lighting and/or HVAC system are eligible to receive an up to $1.80 per square foot tax deduction.
“Encouraging energy efficient building significantly supports the policy goals of Congress of energy independence and energy efficiency for our nation, while at the same time reducing costs for both businesses and taxpayers,” said Lazio. “Incentivizing the design of energy efficient buildings relieves the burden placed on the environment. And it opens up previous resources for the public sector through lower operating costs for the government entities that own these buildings, which in turn allows them to invest more in their core missions.”
In his written and oral testimony, Lazio offered a number of suggestions on ways to improve the program to further promote American energy independence and efficiency as well as ways to make the deduction more beneficial for U.S. businesses.
“Small businesses – especially architects and engineering firms that are designers of government buildings are too often unable to utilize the benefits of 179D because of basis issues,” said Lazio. “The statute should be changed to address the basis issues and allow these small businesses owners to fully benefit from the 179D deduction.”
Lazio presented additional legislative changes that would improve benefits for building retrofits, expand the provision to benefit designers of charitable buildings and Indian tribes, raise the ASHRAE energy efficient standards over time and make 179D a permanent fixture in the tax code.
“We have seen first-hand the positive impact this open policy has had of unleashing the creativity of engineers and designers in providing new and innovative ways to achieve energy efficiency – helping to keep America a leader in the field of energy efficient design,” said Lazio.[/vc_column_text][/vc_column][/vc_row][vc_section][vc_row][vc_column el_id=”quote-box”][vc_empty_space]
“During his testimony, Rick passionately articulated the importance of 179D in not only promoting better energy policy, but in helping to drive a vital sector of our economy. 179D incentivizes the creation of more innovative designs and buildings, which will ultimately lead to more dynamic and competitive design and construction industries. I applaud Rick for offering commonsense solutions that will provide tremendous value for American architects, engineers and contractors.”
Dhaval Jadav
alliantgroup CEO[vc_empty_space height=”62px”][/vc_column][/vc_row][/vc_section][vc_section][vc_row][vc_column][vc_separator][/vc_column][/vc_row][vc_row css_animation=”fadeInRight”][vc_column][vc_custom_heading text=”About alliantgroup” use_theme_fonts=”yes” css=”.vc_custom_1628783597549{margin-bottom: 20px !important;}” el_class=”alt-h1″][/vc_column][vc_column width=”1/4″][vc_single_image image=”19675″][/vc_column][vc_column width=”3/4″][vc_column_text]alliantgroup is a management consulting company with a mission to strengthen American businesses through reinvestment in innovation and job growth. We educate businesses, the industry groups that serve them and the accounting firms that advise them on federal and state credits and incentives that are legislated by our government to keep the U.S. competitive in the global landscape. We are proud to have helped over 20,000 businesses claim nearly $13 billion in credits and incentives. alliantgroup is headquartered in Houston, Texas with additional offices located in Austin, Boston, Chicago, Indianapolis, New York, Irvine, Sacramento, Washington, D.C.; and Bristol and London in the U.K. For more information, visit alliantgroup and engage with us on LinkedIn, Facebook, Twitter, and YouTube.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_separator][/vc_column][/vc_row][/vc_section][vc_row][vc_column][vc_row_inner][vc_column_inner]
Contact us to receive more information about the 179D – Energy Efficient Commercial Buildings Deduction.
