New E-Bike Act Offering Tax Credit on Electric Bicycle Purchases
The use of bikes for urban transportation has significantly risen over the years. More people are beginning to see the future and some are already living it. Especially with the introduction of electric bikes, which solves most of the problems around traditional bikes, the future has only become clearer.
We recently read an amazing article from PeopleForBikes.org that highlighted a new federal legislation to offer an electric bicycle tax credit which would help more people take advantage of this eco-friendly mode of transportation. The idea is that E-bikes are not a fad or tend, but rather a viable means of getting around town. Cycling is not only good for your health, it alleviates congested roadways while reducing our carbon emissions.
The potential law, if approved, would offer individual consumers a refundable 30% tax credit for purchasing an electric bicycle, up to a $1,500 credit for bicycles less than $8,000. This credit would be available once per individual every three years, or twice for a joint-return couple buying two E-bikes.
Studies show that across the United States we can expect an 11% decrease in carbon emissions with a 15% increase in electric bicycle use. These E-bikes have the potential to not only take cars off the road, but make the planet a safer, healthier place to live.
The goal of the inventive program is to motivate people to get on bicycles. Whether that be leisurely rides on weekends or the daily commute each butt on a bike makes a difference.
If you have any questions about the E-Bike Act, please reach out to PeopleForBikes Federal Affairs Manager Noa Banayan at email@example.com.
Thanks for reading our article on 5 Ways E-Bikes Are Saving The Planet. Hopefully you get to experience an e-bike soon if you haven't already. If you have any questions or want gear recommendations drop us a line and we'll get you rolling!
Want to learn more? Check out our BLOG on 5 Ways E-Bikes Are Saving The Planet at the link below!
In the market for a new E-bike?
Whether you are new to the sport or a seasoned veteran, we are excited that you're interested in biking. We break down the who, what, and why behind the electric bicycle trend sweeping out nation in our BLOG, click below!
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We have a fleet of awesome mountain, road, and hybrid bikes standing by, come down and test ride the bike of your dreams today!