Have you noticed electric bikes around your neighborhood?
They are growing in popularity all around the country as more and more people embrace 2-wheels and are doing their part to help reduce pollution.
A recent study found that 46% percent of e-bike commute trips replaced automobile commute trips and if 15 percent of car trips were made by e-bike, carbon emissions would drop by 12 percent.
If Congressman Paneta and Congressional Bike Caucus Chairman Earl Blumenauer’s E-Bike Act is signed into law, it will help Americans get up to a $1,500 tax credit when they buy an electric bike.
“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,” said Congressman Panetta.
Here’s how it will work should it pass through the legislative process:
- Covers 30% of the cost of the electric bicycle, up to a $1,500 credit
- Applies to new electric bicycles that cost less than $8,000
- Is fully refundable, allowing lower-income workers to claim the credit
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