- The new bill would give Americans up to $1,500 off the purchase of electric bikes.
- The 2023 E-BIKE Act is an extension of the law removed from the IRA last year.
- Proponents say the bill would make e-bikes more accessible to many Americans.
Democratic lawmakers introduced a bill last week that would cut Americans’ purchases of e-bikes by up to $1,500. The law, the Electric Bike Incentives for the Environment Kickstart (E-BIKE) Act, is a new version of the 2021 bill of the same name, offering more generous tax amounts to more Americans and a wider range of bikes. Offer a deduction.
The newly expanded law gives Americans who earn up to $150,000, or up to $300,000 for joint tax returners, a 30% off, refundable tax credit of up to $1,500. applies to electric bicycles.
In previous versions of the bill, the rebate was limited to bikes under $4,000, and only those earning less than $75,000 a year ($150,000 for couples) were eligible.The Senate abolished this bill Inflation Control Act 2022but includes subsidies for electric cars and SUVs.
of New E-BIKE LawIt was introduced in both the House and Senate on March 21. California Rep. Jimmy Panetta, Mike Thompson, Adam Schiff, Oregon Rep. Earl Blumenauer, and Hawaii Rep. Brian Schatz. submitted the bill.
“Many people are looking to get out of their cars and ride e-bikes not just for recreation but for transportation,” Congressman Panetta said in a statement. By doing so, we can improve the quality of life for our communities and give them the opportunity to tackle the country’s climate crisis.”
This year’s bill has more support inside and outside the Capitol, but it needs Republican backing to pass the House, and it remains to be seen if that will happen.
E-bikes are increasingly being embraced by environmental advocates as the best alternative to the automobile and an important way to reduce carbon emissions and combat climate change. If a person spends only 15% of the time riding an e-bike instead of driving a car, his emissions will be reduced by 12%. Research Discovered in 2020.
Bicycle proponents argue that e-bikes should be subsidized, as electric vehicles have been for years.
“It’s great that bicycles receive similar consideration, as they replace car travel and provide people with a less expensive and less environmentally impactful means of transportation than electric vehicles.” Bicycling Federation of America told an insider.
A 2020 study found that e-bikes are generally considered a better car alternative than analog bikes because people cycle more often and for longer distances. However, they are on average more expensive than regular bikes, often starting around $1,000.
“If it gets passed, I think it will be one of the biggest impacts in changing the transportation system,” Rachel Haltin, director of sustainable transportation at Bike Colorado, told Insider about the E-BIKE legislation. .
Both Hultin and McLeod, along with bike advocates across the country, will be gathering in the hills this week as part of the National Bike Summit to lobby Congress to pass legislation.
for electric bikes Soaring popularity America for the last few years.E-bike tax credits, introduced by cities and states across the country, have become very popular in recent years. Thousands of Denver residents take advantage of them. city electric bike rebate $400 to $1,200 per person (plus $500 freight e-bikes). The city’s program was so popular that the government had to temporarily suspend it to keep up with demand.
Other cities, including Ann Arbor and Austin, have implemented e-bike rebates, and Colorado, California, Connecticut and Hawaii all plan to introduce e-bike subsidies this year.
“Bicycle Colorado just declared 2023 the year of the e-bike,” said Hultin.