New Biden plan would give e-bike buyers up to $1,500 in tax credits
There’s good news in the latest version of the White House budget deal: the proposed federal tax credit for new electric bike purchases has survived the most recent round of Congressional bloodletting. Not only that, but it’s been restored to its former glory of 30 percent, after the House of Representatives slashed it to 15 percent.
Still, it’s a hugely important proposal for a product that is still struggling to reach mass adoption. If the deal passes in its current form, e-bikes would become significantly cheaper for most Americans. In turn, that could mean a significant change in the transportation options for millions of people around the country.
The legislation would offer Americans a refundable tax credit worth 30 percent of a...