New York (CNNMoney.com) – House lawmakers on Thursday approved a $6 billion measure that aims to provide rebates to homeowners who invest in energy efficiency improvements - but not without a fight from Republicans.
The bill, officially known as the Home Star Energy Retrofit Act but better known as "cash for caulkers," has been touted by President Obama since February as one of the signature pieces of his administration's larger job-creation strategy.
The act "is a common-sense bill that will create jobs, save consumers money, and strengthen our economy," President Obama said after the House passed the measure. "We have workers eager to do new installations and renovations, and factories ready to produce new energy-efficient building supplies."
House Speaker Nancy Pelosi, D-California, estimates that the legislation will create nearly 168,000 jobs in construction, manufacturing, and retail.