This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cash for Caulkers: What's Next?

(Cash for Caulkers story updated with stock price movements of companies that could benefit from the program and U.S. Senate plans for the bill.)
NEW YORK (TheStreet) -- The House has approved "Cash for Caulkers," or the "Home Star" bill, which would reward rebates worth thousands of dollars over two years to those who weatherize their homes.

President Obama has been a supporter of the $6 billion bill. Those who install energy-preserving insulation, doors and windows could be rewarded with as much as $3,000.

The bill, according to Democrats, will not only be good for the environment and help Americans save billions of dollars in energy bills, but also breathe life into the construction industry and promote job growth.

Household products companies like glass-fiber reinforcements producer Owens Corning (OC), home-improvement retailer Home Depot (HD) and home improvement retailer Lowe's (LOW) could also become beneficiaries of the program if fully-approved.

These stocks are trading at $33.33, down 1.7%; $34.20, up 0.7%; $25.82, up 1.2%, respectively, midday Friday.

Republicans weren't as keen about the program, airing concerns about the ability of the government to manage it with fairness and effectiveness, and wondering whether the nation could afford such an initiative amid deepening federal debt.

The bill now goes to Senate for approval, where discussions are likely to begin this summer. Included in the discussions would be how to fund the program; which could turn into heated debate.

The Cash for Caulkers initiative was taken from the highly successful 2009 Cash for Clunkers program that rewarded those who exchanged their existing vehicles for most fuel-efficient ones.

-- Reported by Andrea Tse in New York

Follow Andrea Tse on Twitter and become a fan on Facebook.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,981.66 +21.09 0.12%
S&P 500 1,979.21 +0.87 0.04%
NASDAQ 4,448.0550 -1.5090 -0.03%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs