Obama called on Congress to enact an administration proposal dubbed "Homestar," which would offer rebates of up to $3,000 for energy-saving home renovations. The idea is based on the popular "Cash for Clunkers" program last year, which offered incentives to trade in older vehicles for more energy-efficient ones, providing a boost to auto sales.
If passed by lawmakers, the latter program is expected to cost about $6 billion and entice as many as 3 million homeowners to initiate the renovations.
Obama said the program would achieve multiple goals at once: lowering energy bills for consumers, creating jobs and reducing the nation's dependence on foreign energy sources.
"This is not a Democratic idea or a Republican idea," Obama said. "It is a common-sense approach that will help jump-start job creation while making our economy stronger."
Let's hope that this program gets rolled out quickly, bringing badly needed economic stimulus via emissions-reducing energy efficiency retrofit work that saves citizens money and creates jobs.
I've had enough of the excuses for these smart programs getting bogged down in bureaucracy during implementation and not having an impact as quickly as hoped. It's time to get a move on, D.C. folks -- make it happen!