Policy Issues

Inflation Reduction Act of 2022 “Clean Energy” Tax Incentives Relevant to U.S. Real Estate - Fact Sheet

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.

2022 Policy Agenda - Energy & Climate

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  • 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.

  • Cannabis Policy Issue Position Background

    The Roundtable supports a “safe harbor” from federal sanctions for banking and real estate providers that serve legitimate cannabis-related businesses (“CRBs”) deemed legal under state law. 

     

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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. 

Staff Contact
DD-Oct2019 - contact Duane J. Desiderio 
 Senior Vice President & Counsel

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