Riding to work just got a little sweeter (and a little more affordable)
Commuter Cyclists May Get Tax Breaks in 2021
Back in 2019, the Bicycle Commuter Act was introduced to Congress which pitched a tax break for commuter cyclists. It’s being reintroduced this year, in 2021, and originally wanted to give commuter cyclists:
- Up to $50 a month in tax deductions
- The opportunity to write off memberships for bike-share programs
- The chance to write off electric bike-share memberships
Employers were able to grant about $20 a month in tax credits to commuter cyclist employees a few years ago but the initiative was basically scrapped during a tax revamp.
Electric Bicyclists Get Additional Tax Breaks in 2021
The Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act is also being introduced to Congress this year and aims to get e-cyclists a break on taxes.
The tax break’s goal is to incentivize carbon-neutral transportation to and from work because e-bikes are (in general) more affordable than their electric vehicle counterparts.
Looking to save even more money as a commuter or electric cyclist? Check out these helpful resources for more information.