After passing the Senate and House on August 7 and August 12, respectively, the Inflation Reduction Act of 2022 (IRA) was signed into law by President Biden on August 16, 2022. The legislation will invest almost $370 billion over the next 10 years to tackle the climate crisis.
The Roundtable has encouraged Congress for a number of years to make clean energy tax incentives more usable for building owners, managers, and financiers—and more impactful to help meet national GHG reduction goals.
Responsible economic growth depends on the efficient use of energy and other resources. The Roundtable remains committed to policies that promote optimal and cost-effective energy efficiency investments in buildings.
EPA's ENERGY STAR - For Buildings Issue Position Background
The U.S. Environmental Protection Agency’s ENERGY STAR for buildings program has been a success since its creation in 1998. The Roundtable supports EPA’s ENERGY STAR as a voluntary, market-driven platform for building owners and managers to “label” their assets as top energy efficiency performers.
EPA's ENERGY STAR - For Tenants Issue Position Background
In 2018, the federal EPA issued its first labels to recognize commercial building tenants for high performance design and construction of leased spaces. The Roundtable supports EPA’s tenant-level label as a necessary complement to the agency’s “whole building” rating program.
Building Energy Codes Issue Position Background
The Roundtable has long-supported the bipartisan Energy Savings and Industrial Competiveness (“ESIC”) Act (S. 2137). The ESIC Act brings greater transparency to the U.S. Energy Department’s opaque role in shaping model building energy codes. It also allows real estate stakeholders to introduce energy code comments with greater emphasis on costs, financial returns, and small business impacts associated with building investments in HVAC, lights, insulation and windows.
Commercial Building Energy Consumption Survey (CBECS) Issue Position Background
The Roundtable is at the forefront to advocate for improved nationwide data collected by the federal government on the real estate sector’s energy use. In particular, the CBECS survey needs to gather data from a fuller cross-section of U.S. commercial buildings to more accurately reflect our industry’s myriad building types, sizes, and uses.
EB-5 Investor Program Issue Position Background
Reforms from Congress to overhaul the EB-5 investment visa program are long overdue. The Roundtable supports comprehensive principles offered by numerous stakeholders to reform EB-5 with measures that deter investor fraud, safeguard national security, and balance access to foreign investment capital for rural and urban projects to create jobs for American workers.
Encouraging Foreign Tourism to U.S. Issue Position Background
The Roundtable supports policies to attract international visitation to the United States. Spending by foreign travelers at our hospitality, retail, and attraction properties boosts national GDP and helps correct the trade imbalance. Notably, Congress should extend and fund the "Brand USA" public-private partnership before it expires in 2020, to market America as a premier travel destination that welcomes overseas visitors.
May 6, 2022
Bipartisan Push in Senate Seeks to Include Cannabis Reform Banking Legislation in Economic Competitiveness Bill
February 11, 2022
House Passes Cannabis Reform Banking Legislation to Provide Safe Harbor for Financial Service Providers and CRE Owners
June 11, 2021
Roundtable Comments to SEC on Corporate Climate Risk Disclosures
The Roundtable’s Sustainability Policy Advisory Committee (SPAC) is led by chairman Tony Malkin (Empire State Realty Trust) and Daniel Egan (Vornado Realty Trust) serving as vice chair.
Senior Vice President & Counsel