UPDATE: 5:30 P.M. ET: The House of Representatives today passed H.R. 5019, the Homestar Energy Retrofit Act of 2010, by a vote of 246 to 161. Get more details here.

The Obama Administration's $6 billion Homestar Energy Efficiency Retrofit Program—often called cash for caulkers—is moving a step closer to reality. The U.S. House of Representatives is expected to vote today on H.R. 5019, the Homestar Energy Retrofit Act of 2010. "When it is signed into law, Homestar will be an economic home run for homeowners and home contractors everywhere," said Representative Edward J. Markey, the Massachusetts Democrat who cosponsored the bill and is chair of the Committee on Energy and Commerce's Energy and Environment Subcommittee.

Homestar would provide homeowners with a 50 percent rebate up to $3,000 for a specific energy-efficiency improvement—such as adding insulation, sealing ducts, and installing efficient windows, roofing, or heating or cooling equipment—or a 20 percent rebate up to $3,000 for a whole-house energy-efficiency upgrade.

Homestar is projected to create 168,000 jobs in the construction sector, whose unemployment rate is 27 percent. In 2011, the program would save electricity equivalent to four 300-megawatt power plants and the equivalent of 6.8 million barrels of heating oil, leading to $9.2 billion in energy savings for homeowners. "The bill will create green jobs in construction and manufacturing, help consumers lower their energy bills, and reduce greenhouse-gas emissions," according to a statement from the White House Budget Office.

Until Homestar goes into effect, take advantage of existing federal, state, and utility tax credits and other incentives for energy-efficient home improvements.

—Daniel DiClerico

Essential information: As we've been doing with the cash for appliances rebate program, we'll keep you updated on cash for caulkers news on this blog at Twitter.com/CRHomegarden.