Urgent Action! Support Home Modification Incentives!
It’s time to voice your support for the bi-partisan Home Modification and Accessibility Act (H.R. 7676), sponsored by Representatives Charlie Crist (D-FL), Tom Suozzi (D-NY) and Dan Meuser (R-PA). The act creates financial incentives for homeowners to proactively make accessibility upgrades to their homes. This bold action empowers homeowners to invest in home safety, security and accessibility upgrades to their primary residence without tax or penalty.
- $30,000 lifetime benefit for singles or $60,000 for couples who file jointly.
- After 59½, an above the line tax deduction in the amount spent on eligible home modifications (whether using retirement or other funds).
- Before 59½ , use 401K or IRA funds without penalty for early withdrawal when used on eligible home modifications.
- This bill will lower the cost of these projects by an average of 20%. Americans will be safer. New construction and specialized labor jobs will be created.
Contact your Representatives and Senators TODAY asking them to cosponsor the bill.
Be part of the Solution
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What we want changed:
People being forced out of homes or into poverty by a health incident.
- HomesRenewed has a Vision of Affordable Aging that aligns the social determinants of health, wellness, and value-based healthcare.
How change will look:
- People are able to age in place MUCH better -- more economically, healthfully and joyfully -- because they have updated their homes.
- Business opportunities grow for the home remodeling industry, home care providers and many other stakeholders.
- New, innovative and efficient business models emerge to serve those living in the community -- saving costs for individuals, families, and the nation.
How we will change it
What YOU need to do:
- Join HomesRenewed
- Encourage others to join.
- Grow the grassroots movement about home updates in your community
- Bolster our legislative action
- Contact your representatives in Congress
- Come to DC, network with people who are different from you but share an interest in home updates. Join us to meet with representatives on Capitol Hill
- Make sure your government affairs efforts join our coordinated campaign
- Tell your clients about incentives
- Donate to the HomesRenewed Resource Center our research and education organization
HomesRenewed™ Coalition opens the door to change. Unlike most current policy and funding, HomesRenewed targets the 73% in the Innovation and Opportunity Zone to provide updated homes for middle Americans.
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Purple Tag Program
Modeled after the success of Energy Star labels, the HomesRenewed Purple Tag will identify products that prepare homes for the modern lifespan. These products and projects will cost less because they qualify for incentives.
Americans need to update their homes to Age in Place
- 90% of older Americans prefer to remain at home even if they need help
- Fewer than 3% of homes have basic accessibility features such as no-step entries, curbless showers, grab bars, lever handles, and better lighting
- Most older households own their homes
- 63% of the $383 billion remodeling industry is spent by consumers over 50
- 83% of US wealth is held by people over 50
- More economical aging in place will help reduce medicare costs