Dear Friend,

At the job creation forum that I hosted Monday in Monroe, I heard from small business owners, large employers, economists, labor leaders, and elected officials. High-tech small business owners told me they continue to face challenges to access the credit they need to expand operations and develop the innovation that is central job to creation and economic growth.

How do we provide these small businesses with needed capital for research and development?  One idea we discussed on Monday is strengthening the R&D tax credit. Congress created the credit in 1981 to encourage private investment in research, and it has served as an effective incentive, returning $2 in private research investment for every dollar spent.  Temporarily increasing the tax credit would spur businesses to perform more research in the United States and allow them to expand research employment.  In addition, many struggling small businesses cannot take advantage of the credit because sometimes they have no profit against which to apply the tax credit.  New Jersey has recognized this problem and developed a transferable R&D tax credit, which one company can trade to another company and which can serve as a model for our federal credit to help businesses access capital now to invest in research jobs.

This is one idea I will bring to the table as Congress discusses job creation solutions, but I want to know your thoughts. Please contact me

Tuesday’s Telephone Town Hall

On Tuesday, I hosted a telephone town hall meeting with Central New Jersey residents, during which we discussed the numerous challenges facing our country, including health care reform, job creation, and the war in Afghanistan. If you missed it, you can listen to a recording of it here.

I will keep you up-to-date, in this eGenda, on future in person and telephone town hall meetings.

Resources for Home Energy Efficiency

Making your home more energy efficient – installing new heating, cooling, and lighting equipment, adding insulation in the floors and walls, sealing leaks and cracks - may seem daunting and expensive.  However, there are excellent resources and financial assistance to help you save on energy costs that result from home and appliance energy improvements.  The EPA has estimated that home energy efficiency projects – or weatherization – can reduce your energy bills by as much as 35 percent.

The Energy Star website offers helpful information and valuable resources. The site contains concrete steps to cut down on heating and cooling costs, including information about high-performance windows, a programmable thermostat, and energy efficient home appliances.

Many homeowners are starting to recognize the long term economic benefits of making their homes more energy efficient, but worry about the immediate short-term costs. The federal government provides a tax credit for 30 percent of costs, up to $1,500, for energy efficient home improvements. As the Secretary of Energy has noted, if insulating your attic costs about $1,600 you would receive a $480 tax credit, while saving up to $200 a year on your energy bill.  The State of New Jersey also provides incentives for weatherization improvements.  Low income families can benefit from the almost $120 million that New Jersey received for weatherization grants. Information on how to apply for a assistance can be found here. to share your ideas.

Sincerely,

RUSH HOLT
Member of Congress

P.S. Just a reminder: I always want to hear from you, but please don’t reply to this e-mail.  Instead, please email me through my website at www.holt.house.gov, or call me at 1-87-RUSH-HOLT (1-877-874-4658) to let me know what's on your mind.  Please also note that you may unsubscribe from this list by clicking on the "unsubscribe" link at the bottom of this email.