House Representatives Panetta & Blumenauer introduce "e-bike Act" federal tax credit

Dewey

Dewey

Well-Known Member
Region
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Arlington, Virginia
Interesting tweet, Congressman Panetta's 'E-Bike Act' proposal as written would provide for a 30% tax credit on the purchase of one Class 1-3 ebike (two for joint filers) up to $1,500 ($3,000 for joint filers) for each tax year.
 
NY has similar legislation pending, and probably will be pending a long time, but it uses money that is already allocated ( I think ) for electric cars, meaning no new funding needed. I am all in favor, especially for those without cars. Anything that keeps people off public transit during a pandemic is OK by me. And going forward anything that keeps down the number of cars in the central cities is probably good for all of us.
 
Update: Representatives Panetta and perennial congressional cyclist ally Blumenauer today introduced the "Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act" in the House of Representatives to:
  • Cover 30% of the cost of the electric bicycle, up to a $1,500 credit
  • Apply to new electric bicycles that cost less than $8,000
  • Is refundable, allowing lower-income workers to claim the credit
The E-BIKE Act is supported by:
PeopleForBikes
League of American Bicyclists
California Bicycle Coalition
Bike Santa Cruz County
Bicycling Monterey
Mike's Bikes
Ecology Action
CALSTART
U.S. PIRG
The National Resources Defense Council
Gazelle Bikes
Current eBikes
 
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harryS said:
Would liked to have seen a Republican co-sponsor from the Congressional Bike Caucus to make it bipartisan.
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I agree, this might otherwise be repealed the next time Republicans are in office the same way $20/month bicycle commuter tax benefits were stopped for the period 2017-2025
 
Wait a minute. We have a 25% tariff on most ebikes b/c they come from China, so now we may have a 30% tax credit on most ebikes to offset the tariff. With lots of additional paperwork. Sure, that sounds like the most efficient way to do things. Only in DC.
 
So what plan do you have to address the environment? I lived in coal country and the fossil fuel industry has not been kind to their workers nor good land stewards. This is an electric bicycle forum that advocates their use for both transportation and recreation. I spend the winter in Jim Panetta district and like his father he has been an advocate for the middle class work. If people have an incentive to commute, go to school or shop by a more earth friendly why it is to the advantage of all.
 
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Big changes are proposed for the US Ebike market by our local CA Congressman... let's hope this legislation is passed. ;)

electrek.co

New E-BIKE act introduces 30% US federal tax credit for electric bicycle purchases

Federal legislation was introduced today to create a federal tax incentive for the purchase of electric bicycles in the US....
electrek.co electrek.co

Federal legislation was introduced today to create a federal tax incentive for the purchase of electric bicycles in the US. Electric cars and motorcycles already have their own federal tax incentives in the US, and now electric bicycles may be next. That’s thanks to the Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act, which has been spearheaded by Representatives Earl Blumenauer (D-OR) and Jimmy Panetta (D-CA). The new legislation is designed to make electric bicycles more affordable to average Americans. As Congressman Panetta explained in a statement provided to Electrek:

“E-bikes are not just a fad for a select few, they are a legitimate and practical form of transportation that can help reduce our carbon emissions. My legislation will make it easier for more people from all socio-economic levels to own e-bikes and contribute to cutting our carbon output. By incentivizing the use of electric bicycles to replace car trips through a consumer tax credit, we can not only encourage more Americans to transition to greener modes of transportation, but also help fight the climate crisis.”
Click to expand...

If the E-BIKE Act is eventually signed into law, it would offer a 30% tax credit of up to $1,500 for buying an electric bicycle. To qualify, the electric bicycle would have to be priced below $8,000. The vast majority of electric bicycles sold in the US are priced well below that level and thus would qualify for up to a $1,500 tax credit. Only one tax credit can be applied during a three-year period, but couples filing jointly could apply for two tax credits in three years to cover two e-bike purchases. Electric bicycle sales skyrocketed in the US last year. With prices usually in the several thousand dollar range, though, many Americans who could benefit from e-bikes as sustainable transportation alternatives are otherwise unable to afford them.
 
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"Is refundable, allowing lower-income workers to claim the credit"
I'm not so tax savvy, I don't have a lot of taxable income every year, sometimes it's zero. Does a bill like this benefit me in any way? thanks
 
I like the incentive idea, but making ebikes cheaper by just dropping the tariffs on Chinese ebikes would be easier, and more likely to help low income folks buy ebikes, since they aren't likely to buy expensive European or US made ebikes.
 
bones774 said:
"Is refundable, allowing lower-income workers to claim the credit"
I'm not so tax savvy, I don't have a lot of taxable income every year, sometimes it's zero. Does a bill like this benefit me in any way? thanks
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Yes. Refundable means it can apply to people who don't pay tax due to low income. I didn't know that either until I asked a CPA, btw.
 
Art Deco said:
Wait a minute. We have a 25% tariff on most ebikes b/c they come from China, so now we may have a 30% tax credit on most ebikes to offset the tariff. With lots of additional paperwork. Sure, that sounds like the most efficient way to do things. Only in DC.
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I wonder about conversions. It is rebicycleing/recycling. How more Green can you get? Can someone attach an electric drill with duct tape to a kid's trike for the credit? Art, How do you like my new avatar?
It is the PedalUma Llama. He has saffron robes and is a relative of Dolly here in Petaluma, California.
 

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PedalUma said:
I wonder about conversions. It is rebicycleing/recycling. How more Green can you get? Can someone attach an electric drill with duct tape to a kid's trike for the credit? Art, How do you like my new avatar?
It is the PedalUma Llama. He has saffron robes and is a relative of Dolly here in Petaluma, California.
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Usually, unless you buy new, no credit for you. That was true on my solar power system, and on the various "cash for clunkers " programs. And I know nothing about Llamas (or California) . Sorry. Edit She ? Is certainly cute, compared to the old guy in Tibet.
 
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a little tongue in cheek here but NYS is talking about passing an ebike rebate law. So if I qualify for NYS rebate and Federal tax credit, will I get a free bike? Gonna be a boon to LBS.
 
bones774 said:
a little tongue in cheek here but NYS is talking about passing an ebike rebate law. So if I qualify for NYS rebate and Federal tax credit, will I get a free bike? Gonna be a boon to LBS.
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Good luck with that.
 
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