Congressman Tom Reed to Introduce Roofing Efficiency Jobs Act of 2011; Legislation could create 40,000 jobs
During an appearance at Upstate Roofing and Painting in Brighton, Congressman Tom Reed announcedthat he will introduce the Roofing Efficiency Jobs Act of 2011 when Congress reconvenes in Washington after Labor Day. Reed’s bill, which will create a 20-year depreciation period for commercial roofs (instead of the current 39-year period) will create nearly 40,000 roofing manufacturing and construction jobs nationwide.
“The average lifespan of a typical commercial roof is only 17 years,” Reed explained. “This legislation corrects an inequity in the tax code by aligning the depreciation period closer to the life span of a commercial roof. This bill is a win-win. It is a win for roofing manufacturing and construction jobs, it is a win for businesses wishing to install more energy efficient roofing, and it is a win for the economy.”
As part of the legislation, an existing roof system must be replaced with a commercial roof that meets benchmark energy efficiency (“cool roof”) standards to qualify for the 20 year depreciation period. Accelerating the installation of cool roofs could reduce U.S. energy consumption by upwards of 11.4 trillion BTU per year and save small businesses and consumers millions of dollars in energy costs.
Reed was joined at the announcement by Dave Pastore, President and CEO of Upstate Roofing and Painting, Roger Gutheil of GMR Associates, Ron Haney, Business Manager for Roofers Local 195 and Dan Richardson,Business Manager of Roofers Local 203.