Businesses would get a tax credit for installing certain energy-saving insulation.
This bill would let businesses claim a new tax credit for the labor costs of installing specific types of mechanical insulation. This means businesses could save money on their taxes if they upgrade older mechanical systems to be more energy efficient. The credit would be 10 percent of the labor costs and would apply to costs incurred after December 31, 2025.
Currently, businesses do not have a specific tax credit for the labor costs of installing mechanical insulation. They can generally deduct these costs. If this bill passes, businesses would get a new tax credit equal to 10 percent of these labor costs, but they would not be able to also deduct those same costs from their taxes. This credit would apply to costs paid after December 31, 2025, and would end after December 31, 2028.
HR 2463 · 119th Congress · March 27, 2025 · AI Summary by gemini-2.5-flash · 8/10
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