Tax Credit to Help Roofing Industry and Boost the Economy
NEW YORK, N.Y. – The EPDM Roofing Association (ERA) has joined a coalition of leading associations and businesses across the home improvement, roofing manufacturing, and construction industries, led by the Co-CEOs of Standard Industries, David Millstone and David Winter, to send letters to the White House and leaders of the House Ways and Means Committee and Senate Finance Committee urging them to support a proposal that would help families make meaningful improvements to their homes. The proposal would deliver a direct financial benefit to middle-class homeowners while providing a “Main Street” stimulus for the millions of Americans whose livelihoods are tied to the home improvement and construction industries, including contractors, roofers, plumbers, electricians, and painters.
With Congress poised to consider a new round of economic recovery and stimulus measures, the proposal set forth by the coalition includes a new refundable tax credit covering up to 30 percent of the cost of qualified home improvements and commercial construction projects. For example, a homeowner making $6,000 of improvements would receive $1,800 in savings, making it more affordable for those who have deferred maintenance or are experiencing changed living circumstances to make necessary upgrades. In doing so, the proposal would help middle-class homeowners enhance their quality of life while increasing the value of their largest financial asset. The credit would also create broad-based economic benefits by supporting demand for the services of the more than 10 million workers tied to the home improvement sector.
“As we have witnessed these past few months, the economic devastation caused by the coronavirus pandemic has been vast, shrinking GDP by five percent in the first quarter and wiping out millions of jobs across the country,” the letters explained. “Damage this far-reaching threatens everyone, from homeowners to small business owners and workers across the economic spectrum. Our proposed tax credits serve as an opportunity to counter this devastation, improving individual prosperity and supporting the economic recovery.”
The home and commercial construction sector is responsible for employing millions of Americans in high-value jobs. For example, the roofing industry alone is responsible for employing 1 million Americans in well-paying jobs and fostering economic activity in communities across the country.
The proposal also includes a provision that would help businesses make upgrades and safely reopen by providing a refundable credit for up to 30 percent of qualifying business property improvements. Together, the proposed credits would help stimulate the economy and get Americans back to work by investing in homes and businesses across the country.
In addition to ERA, signatories of the letters to the administration and Congress include Standard Industries, the National Roofing Contractors Association, Asphalt Roofing Manufacturers Association, Atlas Roofing Corporation, Beacon Building Products, Building Suppliers Corporation, Cellulose Insulation Manufacturers Association, Chemical Fabrics & Film Association, Chicago Roofing Contractors Association, Colorado Roofing Association, Firestone Building Products, GAF, International Institute of Building Enclosure Consultants, Johns Manville, Kansas Roofing Association, Kentucky Roofing Contractors Association, Metal Construction Association, Mid-States Asphalt, National Insulation Association, North Texas Roofing Contractors Association, Owens Corning, Polyisocyanurate Insulation Manufacturers Association, Roofing Contractors Association of Hawaii, Roofing Contractors Association of Washington, Roof Coatings Manufacturers Association, SPRI, SOPREMA, Spray Polyurethane Foam Alliance, SRS Distribution, TAMKO Building Products LLC, Tarco Roofing, and US GreenFiber LLC.
# # #
Standard Industries is a global company focused on building materials, ranging from the world’s largest roofing and waterproofing business to insulation and industry-changing solar solutions.
One of the construction industry’s voices for roofing professionals, the National Roofing Contractors Association is a leading authority in the roofing industry for information, education, technology, and advocacy.
The Asphalt Roofing Manufacturers Association represents North America’s asphalt roofing manufacturing companies and their raw material suppliers. The association includes the majority of North American manufacturers of asphalt shingles and asphalt low slope roof membrane systems.
Atlas Roofing Corporation, based out of Atlanta, Georgia, is a leading provider of high performance roofing and construction materials that help build better environments to live and work in. They are also a vocal leader in promoting energy efficiency and conservation.
Beacon Building Products is the largest publicly traded distributor of roofing materials and complementary building products in the U.S. and Canada, and are among the oldest and most established distributors in the industry. They are headquartered in Herndon, Virginia.
The Building Suppliers Corporation is a cooperative organization of leading roofing and building material wholesale distributors, consisting of 17 companies with more than 3,000 employees in over 200 branch locations across the U.S. and Canada.
The Cellulose Insulation Manufacturers Association is a trade association made up of cellulose insulation producers and affiliated members that is dedicated to ensuring the highest quality of cellulose insulation products and standards.
The Chemical Fabrics & Film Association represents manufacturers of polymer-based fabric and film products, used in the building and construction, automotive, fashion, and many other industries.
The Chicago Roofing Contractors Association is the leading trade association of roofing and waterproofing contractors in Illinois.
The Colorado Roofing Association seeks to help homeowners and commercial building owners in Colorado make informed decisions about replacing and maintaining their roof systems.
The EPDM Roofing Association represents the manufacturers of EPDM single-ply roofing products and their leading suppliers.
Firestone Building Products is a division of Bridgestone Americas’ portfolio of businesses that manufactures roofing, lining, and other building materials.
GAF is the leading roofing manufacturer in North America, with plants strategically located across the U.S. As a Standard Industries company, GAF is part of the largest roofing and waterproofing business in the world. Their world headquarters are located in Parsippany, New Jersey.
The International Institute of Building Enclosure Consultants is an international association of professionals who specialize in roofing, waterproofing, and exterior wall specification and design.
Johns Manville manufactures premium-quality insulation, commercial roofing, and fibers and nonwovens for commercial, industrial, and residential applications. The company is based out of Denver, Colorado.
The Kansas Roofing Association is a statewide trade association of Kansas roofing contractors, suppliers, distributors, and other professionals. The group collectively represents the voice of the roofing industry in Kansas.
The Kentucky Roofing Contractors Association is a trade association representing commercial and residential roofing contractors, manufacturers, suppliers, and other related industry professionals in the Commonwealth of Kentucky.
The Metal Construction Association is an organization of manufacturers and suppliers whose metal products are used in structures throughout the world. The mission of the Metal Construction Association is to promote the use of metal in the building envelope through marketing, education, and action on public policies that affect metal’s use.
Mid-States Asphalt manufactures and distributes a variety of products for built-up roofing and other commercial applications, from roofing asphalt to tapered insulation. They are based out of Tuscaloosa, Alabama.
The National Insulation Association is a not-for-profit trade association representing merit union contractors, distributors, laminators, fabricators, and manufacturers that provide thermal insulation, insulation accessories, and components to the commercial, mechanical, and industrial markets throughout the nation.
The North Texas Roofing Contractors Association is the premier resource for professional roofing contractors and associates working and doing business in North Texas. NTRCA offers educational training opportunities, keeps its members informed on industry standards, promotes its members and advocates for consumers and the professional roofing industry in North Texas.
Owens Corning is a global building and industrial materials leader employing approximately 19,000 people in 33 countries around the world, headquartered in Toledo, Ohio. They provide innovative products, manufacturing technologies, and sustainable solutions that address energy efficiency, product safety, renewable energy, durable infrastructure, and labor productivity.
The Polyisocyanurate Insulation Manufacturers Association serves as the unified voice of the polyiso industry. Polyiso is a versatile and high performance insulation solution that is suitable for a multitude of applications. It is most commonly used as insulation for roofs and walls, and as a protective roof cover board.
The Roofing Contractors Association of Hawaii is a statewide trade association for roofing contractors, representing the voice of the roofing industry in Hawaii.
The Roofing Contractors Association of Washington is a trade association designed to help all roofing industry businesses or associated businesses in the state of Washington.
The Roof Coatings Manufacturers Association (RCMA) is the national trade association representing manufacturers of asphaltic and solar reflective roof coatings and the suppliers to the roof coatings industry. It consists of more than 70 members who manufacture in almost every state in the country as well as suppliers to the industry.
SPRI is the leading authority in single-ply roofing, comprised of a collection of commercial roofing industry experts dedicated to providing an open forum for discussion, education, and innovation.
SOPREMA operates over 50 manufacturing plants and has a presence in 90 countries across the world offering a comprehensive line of commercial roofing, waterproofing, wall protection, and civil engineering solutions combining superior products and systems with decades of proven performance.
The Spray Polyurethane Foam Alliance (SPFA) is the collective voice, along with the educational and technical resource, for the spray polyurethane foam industry. SPFA develops tools designed to educate and influence the construction industry with the positive benefits of spray polyurethane foam roofing, insulation, coatings, and specialty installations.
SRS Distribution is a private company consisting of industry-leading, independent roofing distributors with a common goal to focus all efforts on serving the professional roofing contractor. Their headquarters are located in McKinney, Texas.
TAMKO Building Products LLC has been a leading independent manufacturer of residential roofing shingles for over 75 years, with headquarters located in Kansas.
Tarco Roofing is one of the largest independently owned manufacturers of residential roofing products and commercial roofing products in North America, based out of Little Rock, Arkansas.
GreenFiber LLC is a national manufacturer of cellulose insulation. They offer insulation, sidewall insulation plugs, insulation blowing machines, coverage charts and banners, cocoon insulation, fire protection, and sound isolating products throughout the U.S. and Canada. Their headquarters are located in Charlotte, North Carolina.
# # #