Statement from Renovate America CEO J.P. McNeill on anti-PACE legislation introduced in Congress

“Renovate America is committed to strong consumer protections and disclosures for PACE financing. However, legislation introduced in Congress this week is not intended to protect consumers but to kill residential PACE. This legislation would destroy jobs and small businesses, result in higher utility bills for families, and prevent Americans from investing in their homes. There is a better way forward: Congress can and should come up with legislation that codifies robust national consumer protections while recognizing the innovation in financing that PACE represents. With such a new federal framework, homeowners will have both strong protections and more options to afford home improvements than traditional financing now offers, and state and local governments can continue to leverage PACE to meet important public policy objectives and boost local employment at no cost to public budgets.”

Source:PRN