Legislators Consider Lawmakers Eye Tax Credits For Ebikes

Legislators Consider Tax Incentives for Electric Bicycles3ea590861 380

Big News from Washington, D.C.

Have you caught wind of the latest update making waves in Washington, D.C. this week? It’s not the news you might be thinking of… We’re referring to the proposal of the remarkable Electric Bicycle Incentive Kickstart for the Environment Act, affectionately known as the EBIKE Act (smart, right?), brought forward by the esteemed co-sponsors of the U.S. House of Representatives, Earl Blumenauer from Oregon, and Jimmy Panetta from California.

This groundbreaking legislation, if approved, would offer a generous tax credit equivalent to 30 percent off (up to $1,500) on a brand-new electric bicycle priced below $8,000. For those Americans fortunate enough to receive a refund from the IRS during tax season, this could be an extra bonus added to your reimbursement. If you’re considering a sleek Rad model, it’s a potential average credit of $449 that could end up in your pocket.

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Congressman Panetta, in a statement, emphasized that this initiative is driven by the environmental advantages resulting from a higher number of individuals choosing an ebike over driving a car.

“Ebikes aren’t merely a passing trend for a select few; they represent a legitimate and practical mode of transportation that can contribute to reducing carbon emissions,” the Congressman eloquently explained. “Through a consumer tax credit that encourages the adoption of electric bicycles as an alternative to car trips, not only can we inspire more Americans to embrace greener modes of transportation, but we can also actively combat the climate crisis.”

This legislation follows in the wake of other bicycle-friendly bills championed by Blumenauer, the esteemed Co-Chair of the Congressional Bike Caucus. These bills aim to fortify the nation’s cycling infrastructure and expand tax credits for individuals who choose to commute to work by bike.

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“One of the few positive developments of the past year has been the surge in interest in biking. Communities, both large and small, are spearheading a remarkable bike boom,” Blumenauer remarked in an official statement. “Notably, electric bicycles are broadening the spectrum of individuals who can partake, making bike commuting even more accessible.”

From day one, our objective has been to revolutionize the realm of mobility, and witnessing tangible legislative action that will encourage more people to embrace ebikes serves as a clear indication that we are on the right path.

However, akin to numerous bills presented in the nation’s capital, the EBIKE Act will not succeed without encountering several challenges (a bit of legislative humor there). In this instance, the hurdle relates to the support of Rad riders like yourself!

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If you wish to witness the implementation of a consumer tax credit for new ebikes, I urge you to reach out to your Congressional representative courteously and request their invaluable support.

Keep a vigilant eye on this matter. We aren’t banking on its passage during peak riding season, as there is still a long road ahead, including making headway in the Senate!

Discover Your Representative!