Perlmutter pushes green construction
By M.E. Sprengelmeyer, Rocky Mountain News (Contact)
Published June 11, 2008 at 4:35 p.m.
Updated June 11, 2008 at 11:53 p.m.
Rep. Ed Perlmutter drew praise for eco-friendly proposal.
As of Wednesday, Rep. Ed Perlmutter hopes to be considered "green" for something other than his freshman status in Congress.
The first-term Democrat was center stage at a House Financial Services Committee hearing as he kicked off the push for the biggest piece of legislation he has offered to date: a comprehensive package of lending incentives meant to spur energy-efficient and environmentally friendly construction.
It's not the type of small bite at the apple that newly minted lawmakers typically offer as they're learning the ropes.
The bill would change the way the congressionally chartered lenders Fannie Mae and Freddie Mac do business, giving them a mix of incentives and mandated goals to spur financing for "green" building.
It also would promote energy-efficient construction in government housing programs and prevent insurance companies from denying coverage to homes that get energy from renewable sources off the typical power grid.
In addition, it would encourage lower-cost loans for energy-efficient construction or "location-efficient" homes built closer to public transportation.
The legislation stems from Perlmutter's role as chairman of a special task force of the Financial Services Committee.
It picked up a powerful ally Wednesday, when the committee's chairman, Rep. Barney Frank, D-Mass., signaled that the bill could be on a fast-track to pass this year - at least in the House of Representatives.
"I'm particularly pleased that some of the freshmen members of this committee took the initiative in putting this together," Frank said.
The bill, known as the Green Resources for Energy Efficient Neighborhoods Act, or GREEN Act for short, drew bipartisan praise for its goals.
With economic woes and energy independence hot topics in this year's election, Perlmutter said he was optimistic about getting the bill passed - and soon.
"It's good for national security, it's good for the climate and it's good for jobs," he said.
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