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It doesn't matter. Most households in the Bay Area, Los Angeles, New York, etc probably wouldn't qualify unless they bought into their house a long time ago or inherited their homes and also haven't seen any wage increases in the last decade. In this case, they are also the people sitting on a kiloton of home equity with a tiny mortgage payment.

There's nothing equitable about this plan. If they wanted to make it equitable they should have just had a countrywide income cap at 500K or something.

I also fear this will drive the prices of heat pumps up. We'll see what happens.
 

ItsNotAboutTheMoney

Well-Known Member
Jul 12, 2012
12,489
11,087
Maine
Does someone have clarity on how they define "where you live" or how exactly the states are going to administer this program?

If they use state median income I am screwed, if they use my zip codes or towns median income I am definitely more than good. I'm sure this is the case for a lot of people that live close to the coast.

The Bill said:
(4) LOW- OR MODERATE-INCOME HOUSEHOLD.—The term “low- or moderate-income household” means an individual or family the total annual income of which is less than 150 percent of the median income of the area in which the individual or family resides, as reported by the Department of Housing and Urban Development, including an individual or family that has demonstrated eligibility for another Federal program with income restrictions equal to or below 150 percent of area median income.
 

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