Help make $2,500 in Tax Benefits for Riding a Bike a reality
The Bicycle Commuter Act (H.R. 384) would offer nearly $1,000/year in pre-tax benefits for biking to work, and the Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) (H.R. 1019) Act could relieve up to $1,500 on the cost of an electric bicycle through a refundable tax credit.
Help make these benefits a reality by sending your representative a letter, asking them to cosponsor both bills today!
If signed into law, the Bicycle Commuter Act would:
- Offer employees $81/month (adjusted for inflation) in pre-tax commuter benefits.
- Allow the bicycle benefit to be used with other transit and parking benefits.
- Add the use of bike share programs as eligible for the benefit and clarify that electric bicycles are eligible
If signed into law, the E-BIKE Act would:
- Relieve 30% of the cost of an electric bicycle, up to $1,500. This would apply to new, low-speed electric bicycles that cost less than $8,000 and would be allowed once per individual every three years, or twice for a joint return couple buying two electric bicycles.
- Allow those who do and don’t report income to be eligible.
- Mandate an IRS report after two years to evaluate whether the credit reaches low-income Americans.