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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV