Beware of Cap and Trade

The United States House of Representatives has recently passed a "Cap and Trade Bill", HR 2454 that critics charge is so large & long that few if any Congressmen could have read or realize what is actually in the bill. Now that it's passed, we do.
Foremost it is a tax with an annual cost to the average American family four of $6800.00 according to the Congressional Budget Office.
Secondly, it cedes to the EPA the constitutional right of home owners to sell their own home. Every home will need a label (read license like an automobile). Estimated cost to receive your "label" is $200.00.

To receive your "label" you must apply to an EPA Administrator to have your home inspected. When granted and inspected, the inspector will measure the efficiency of your home for water and energy usage. Wiring, air conditioners, refrigerators, stoves, lighting, ducts, toilets, faucets, washers, dryers, furnaces, etc. will be inspected and noted. Roofs, insulation, windows etc. are also in play.

Then to sell your home, you must receive permission from the EPA. The EPA will then look at your "label" and tell you what you must retrofit in your home to bring it up to current EPA standards. This could well be more expensive than the home is worth. Air conditioners are thousands of dollars as are roofs, insulation, appliances, furnaces, etc. Should you attempt to bring your home into compliance, you will have to apply for permission again with no guarantee that all your work and expense will qualify your ability to get permission to sell. You might get a different inspector, the standards may have changed. Critics worry that an inspector could well investigate political affiliation before granting "label" and permission to sell.

If lower income families are helped financially in this process, and they will be, this will be the largest transfer of wealth this country has ever seen.
Fixer uppers will no longer be available to the young, investors, or first time buyers.
The constitutionality of this bill seems suspect and the Senate has yet to take up the measure, but I would urge everyone reading this blog to contact their Senator in opposition to this bill. For info on Real Estate in the Phoenix Arizona area see us at http://RalphandTricia.com