PeopleForBikes champion US Government eBike tax credit
“Electric bicycles help democratize our streets and make active transportation an option for more Americans.” states the announcement from PeopleForBikes, which champions the eBike Act which is making a comeback in Congress.
Noa Banayan, director of federal affairs at PeopleForBikes, writes, “PeopleForBikes applauds the reintroduction of federal legislation to create an electric bicycle tax credit, helping more people easily access the many benefits of electric bicycles.”
This news highlights potential for the return of Federal financial support, following on from the August 2022 news that US government financial assistance for eBikes, which had already frustratingly capped at the $1500 price point, was then cut altogether.
The announcement goes on to highlight that, “If signed into law, the E-BIKE Act would offer individual consumers a refundable 30% tax credit for purchasing an electric bicycle — up to a $1500 credit for new bicycles less than $8000. The credit would be allowed once per individual every three years, or twice for a joint-return couple buying two electric bicycles. New to this version is this addition of income caps that parallel the electric vehicle tax credit caps: an annual salary of $150K for single filers, $225K for heads of households, and $300K for those filing jointly.”
To read the full PeopleForBikes announcement click here.
