Tom Reed Combines Energy Efficiency, Jobs and Common Sense in New Roofing Efficiency Bill
Tom Reed brings manufacturers and construction workers, business owners and energy efficiency and labor organizations together under his Roofing Efficiency Jobs Act of 2014. Reed was in Elmira at Evans Roofing Company Wednesday to talk about the bill he recently introduced with Rep. Bill Pascrell (D-NJ) to create jobs, improve energy efficiency and save small businesses millions each year in energy costs by correcting an inequity in the tax code. Representatives from Evans Roofing and the National Roofing Contractors Association joined Reed to talk about the bill’s impact on the local economy.
“It’s common sense to fix the unfair and outdated depreciation schedule for taxpayers so that we’re supporting construction and manufacturing jobs while encouraging energy efficiency,” Reed said. “It doesn’t make sense to put off money-saving upgrades when we can help local businesses replace their roofs sooner with newer, more energy-efficient technology.”
Current law requires a 39-year depreciation schedule for commercial roofs while the average lifespan of these roofs averages just 17 years. This discrepancy causes building owners to delay the full replacement of older, failing roofs in favor of limited, piecemeal repairs. The Roofing Efficiency Jobs Act of 2014 lowers the depreciation period for commercial roofs to 20 years.
Building owners who do install new roofs before the current 39 year schedule has elapsed need to depreciate both roofs at different schedules, causing additional burdens for business owners Reed says. “Our common sense reform cuts down on paperwork and accounting complexities businesses run into when they want to upgrade their roofs but haven’t yet waited the full 39 years. Caring for our local economy means making it simper for businesses to improve and create jobs. We don’t need an unfair Washington policy complicating progress.”
Bill Fischer, Chief Executive Officer of Evans Roofing Company said, “This legislation would facilitate the creation of thousands of private sector jobs in New York by reforming the badly outdated depreciation schedule for commercial roofs in the tax code. In addition to accelerating economic growth in the construction industry, this legislation will reduce tax and paperwork burdens on many small businesses in New York and across the nation.”
Duane Musser of the National Roofing Contractors Association said, “I want to thank Congressman Tom Reed for his leadership in sponsoring reform legislation in Congress that will help create an estimated 40,000 new jobs within the roofing industry. The Roofing Efficiency Jobs Act would remove an obstacle in the tax code to job creation and achieving greater levels of energy-efficiency in the commercial building sector. The National Roofing Contractors Association has worked for many years with allies in both industry and labor to advance this bipartisan proposal.”
By making energy efficient roofing systems more accessible, energy consumption in the United States could be reduced by as much as 11.4 trillion BTUs and save small businesses and consumers millions of dollars each year in energy costs. A report conducted by Ducker Worldwide, a global industrial research firm, found that reforming the depreciation schedule for commercial roofs would spur demand and create an estimated 40,000 jobs.
The Roofing Efficiency Jobs Act is supported by a wide range of manufacturing, energy efficiency, labor and construction organizations including the Associated Builders and Contractors (ABC), Center for Environmental Innovation in Roofing (CEIR), Joint Roofing Industry Labor and Management Committee, National Roofing Contractors Association (NRCA) and the United Union of Roofers, Waterproofers and Allied Workers.
The bill has been introduced in the Senate by Senators Ben Cardin (D-MD) and Mike Crapo (R-ID).