The Trump administration is preparing to shut down the Energy Star program, which has helped American households save an average of $450 annually in energy costs, according to The Verge. Energy Star was created in 1992 under the first Bush administration. It provides energy-use information and incentivizes purchases through rebates and tax credits of up to $3,200 per year. The program has saved consumers over $500 billion and returns $350 for every federal dollar spent. EPA officials confirmed a reorganization that eliminates key offices overseeing Energy Star, though did not comment on the program directly. Critics warn the move could raise household energy bills nationwide.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Trump administration is preparing to shut down the Energy Star program,
00:05which has helped American households save an average of $450 annually in energy costs,
00:10according to The Verge.
00:12Energy Star was created in 1992 under the first Bush administration,
00:15provides energy use information,
00:17and incentivizes purchases through rebates and tax credits of up to $3,200 per year.
00:22The program has saved consumers over $500 billion
00:24and returns $350 for every federal dollar spent.
00:27EPA officials confirmed a reorganization that eliminates key offices overseeing Energy Star,
00:33though they're not commenting on the program directly.
00:35Critics warned the move could raise household energy bills nationwide.
00:38For all things money, visit Benzinga.com slash GSTV.