PeopleForBikes Celebrates $7.4 Billion for Bikes in New House Tax Bill
September 12, 2021
WASHINGTON, D.C. (Sept. 11, 2021) — PeopleForBikes applauds the hard work of the U.S. House of Representatives Ways and Means Committee in producing the GREEN Act, which proposes a monumental $7.4 billion investment in bicycles and electric bicycles. This bill includes PeopleForBikes’ policy priorities such as the Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act and the Bicycle Commuter Act, among other new incentives for bicycling and bike purchasing.
The electric bicycle tax credit proposed in the GREEN Act would offer a 15% refundable consumer tax credit (up to $1500) on the purchase of a qualifying new electric bicycle. The bicycle commuter benefit would establish an $81/month pre-tax benefit for biking to work that could be used in harmony with parking and transit benefits, as well as cover bike share, micromobility and electric bicycle costs.
“Every dollar invested in bicycle incentives guarantees returns for a cleaner planet, better public health, equitable mobility and economic growth,” said PeopleForBikes President and CEO Jenn Dice. “When so many of us are reevaluating how we move and the climate impact of our transportation choices, the GREEN Act will help bring electric bicycles into the homes of Americans seeking an efficient and emissionless transportation option.”
The Ways and Means Committee will hold a markup for the GREEN Act on Sept. 14. If it is signed into law, American commuters and taxpayers could receive up to $2,500 a year for purchasing an electric bicycle and riding it to work.
PeopleForBikes works at the federal, state and local levels to advance the state of bicycle infrastructure, promote incentives for bicycles and expand access to electric bicycles. For questions related to this work and support for the GREEN Act, please contact PeopleForBikes Director of Federal Affairs Noa Banayan at firstname.lastname@example.org.
PeopleForBikes is making biking better for everyone by uniting millions of Americans, thousands of businesses and hundreds of communities to make every bike ride safer, more accessible and more fun. When people ride bikes, great things happen. Join us at PeopleForBikes.org.