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Congress Considering "E-Bike Act" Offering 30% Tax Credit on E-Bikes Up to $1500!

From PeopleForBikes.org ...

 

PeopleForBikes applauds the introduction of federal legislation to offer an electric bicycle tax credit, helping more people easily get out on two wheels. Led by Congressmen Jimmy Panetta (D-CA) and Earl Blumenauer (D-OR) in the U.S. House of Representatives, the Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act prioritizes electric bicycles as a zero-carbon mode of transportation by making them more affordable and accessible for all Americans.

Support the E-BIKE Act today by clicking the button below sending a short letter to your representative, encouraging them to co-sponsor the bill.

If signed into law, the bill would offer consumers a refundable tax credit on the purchase of a new electric bicycle. The tax credit would: 

  • Cover 30% of the cost of an electric bicycle, up to $1,500
  • Apply to new electric bicycles that cost less than $8,000
  • 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

The bill also mandates a report from the Internal Revenue Service after two years to understand the distribution of the credit by income tax bracket and adjust for equity in the future. 

If you have any questions, please contact PeopleForBikes Federal Affairs Manager Noa Banayan at noa@peopleforbikes.org

Together, we can make bike riding better for everyone!

 

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