New E-BIKE Act would create a 30% tax credit on new E-bike purchases.
by Cait Morrissey
The benefits of riding a bike over a car not only benefit your health but the plant's health as well by reducing carbon emissions. On Tuesday, the House of Representatives was introduced a bill that would give a refundable tax credit of 30% (up to $1,500) on purchasing a new e-bike less than $8,000.
The bill introduced by Congressman Jimmy Panetta (D-CA) and Congressional Bike Caucus Chairman Earl Blumenauer (D-OR). Congressman Panetta hopes to turn E-bikes from just a fad to a realistic and practical form of transportation and reduce 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," said Congressman Panette. 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."
A recent study, published in the Transport and Environment journal, found if 15% of automobile trips were replaced with an E-bike that carbon emissions can decrease by 12%. The study sparked the interest in the Congressman's to create an incentive.
Co-sponsor of the bill Earl Blumenauer is the founder and co-chair of the Congressional Bike Caucus. It is a bipartisan caucus of the House of Representatives that promotes cycling awareness and its benefits on improving infrastructure.
"One of the few positive developments of the last year has been the surge in biking. Communities large and small are driving a bike boom. Notably, electric bicycles are expanding the range of people who can participate and making bike commuting even easier," said Rep. Earl Blumenauer. "I look forward to working with Congressman Panetta on this important expansion of cycling opportunities."
People for Bikes is supporting this bill. They are urging bicycle lovers and advocates to send a letter to their representatives to encourage their support. Join the Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act and learn more here. Bike Masters supports this bill, and we invite you to join the E-BIKE Act with us!
With the increase in interest in E-bikes, now is the perfect time to start looking at options.
- Creo SL is the lightest E-bike in its class.
- Sl 1.1 motor delivers up to 240 watts of assist and leaves no resistance when turned off.
- Up to 80 mile range from the internal battery, 120 miles with the optional range extender
- Future shock to tame rough roads with 20mm of travel.
- Sleek blend of speed and comfort, available in step through for easy mount and dismount.
- 650b rims with 2.3 tires offer a cushy and smooth ride on the roughest routes.
- Removable battery for easy charging.
- Range calculator on the smartphone app will never leave you stranded.
- Same lightweight SL 1.1 motor as the Creo has a peak power of 240 watts.
- Speed up to 28mph.
- Lightweight aluminum frame.
- Integrated battery with optional extender for up to 120 miles of range.
- Built in headlight and taillight run off the internal battery.
- A need breed of eMTB combines a full carbon frame and Fox suspension with the ultra smooth SL 1.1 motor.
- Ride you favorite trails longer with the optional range extender which boosts range up to 50%.
- Fully customizable riding experience with the Turbo Connect App manages battery use and more.
- Stumpjumper inspired experience offers confidence and control.
If you would like more information, reach out to us at the shop by phone at 402-964-1080 or by email at sales@bikemasterscycling.com.