Federal tax bill could save you $1,500 on your next ebike
From BikeRadar.com
The bill would provide tax credit on new electric bikes under $8,000
By Stan Portus
Federal lawmakers in the USA have reintroduced a bill that would give you a tax break on the purchase of a new electric bike.
The Electric Bike Incentive Kickstart for the Environment (E-BIKE) Act would cover 30 per cent of the cost of an electric bike, up to $1,500.
The refundable tax credit would apply to new ebikes under $8,000, which is double the $4,000 cap proposed in president Joe Biden’s scrapped Build Back Better campaign.
The bill would provide the maximum credit of $1,500 to people with incomes up to $150,000 for a single filer or $300,000 for a joint filer.
Cycling UK has urged the UK government to follow the USA’s lead, stating subsidies are a cost-effective way to maximise the carbon-reducing potential of ebikes.
