March 2, 2010 - Home energy efficiency incentives proposed by President Barack Obama will create much-needed jobs and help make America more energy independent, according to the National Association of Home Builders (NAHB).

Speaking in Savannah, Ga., President Obama outlined a $6 billion proposal to provide cash rebates to home owners who make energy-saving home improvements.

“This has the potential to be a real shot in the arm for the home building industry,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. “It will help put America back to work and it will help families save on monthly energy bills.”

NAHB economists estimate that every $1 billion in remodeling and home improvement activity generates 11,000 jobs, $527 million in wages and salaries, and $300 million in business income.

Administration officials estimate that up to four million households could benefit from the program, officially known as Homestar, but dubbed "Cash for Caulkers" by many in Congress and the media.