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BOULDER, COLO. (Jul. 22, 2021) — PeopleForBikes applauds the timely introduction of legislation in the U.S. Senate to offer an electric bicycle tax credit, helping more people easily get out on two wheels. The Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act (S. 2420), led by Senators Brian Schatz (D-HI) and Ed Markey (D-MA), would prioritize electric bicycles as a zero-emission mode of transportation by making them more affordable and accessible for all Americans.
If signed into law, the E-BIKE Act would offer individual consumers a refundable 30% tax credit on the purchase of an electric bicycle — up to a $1,500 credit for qualifying new electric bicycles. The credit would be allowed once every three years for individuals or twice for a joint-return couple buying two electric bicycles.
The Senate bill is a companion to the E-BIKE Act introduced in the U.S. House of Representatives in February by Representatives Jimmy Panetta (D-CA), Earl Blumenauer (D-OR) and Mike Thompson (D-CA). As Congress negotiates the details of a large infrastructure package, a budget resolution and actionable climate policy, the E-BIKE Act offers a low-cost solution to reducing transportation emissions and expanding Americans’ choice in how they get around.
“We need to do everything we can to transition to a clean energy economy and that includes changing the way we get around. E-bikes have the potential to help us get there — we just need to make it easier for people to get on board,” said Senator Schatz.
Electric bicycles keep people moving with efficiency and ease, no matter their age or physical abilities, while also displacing trips otherwise made by car. Studies show that across the United States, we could expect an 11% decrease in carbon emissions with only a 15% increase in electric bicycle mode share. An all-in approach to reducing carbon emissions must recognize the power of electric bicycles to take cars off the road while keeping people moving, active and connected to their communities.
“It’s time we offer a meaningful incentive for American consumers looking to lower their carbon footprint while staying active and healthy. Congress can support electric bicycles as a tool in the fight against the climate crisis with the E-BIKE Act,” said PeopleForBikes President and CEO Jenn Dice. “We’re grateful to Senators Schatz and Markey and Representatives Panetta, Blumenauer and Thompson for leading the charge.”
PeopleForBikes’ mission to get more people on bikes more often is directly supported by the E-BIKE Act, complementing those efforts by making electric bicycles more easily accessible and affordable. PeopleForBikes has long championed the ability of electric bicycles to help people move more efficiently while simultaneously keeping them active and healthy, as well as helping reduce traffic congestion, improve air quality and lower emissions by taking cars off the road.
Electric bicycles help democratize our streets and make active transportation an easier option for more Americans. PeopleForBikes is dedicated to building a bipartisan coalition of support alongside Senators Schatz and Markey and Representatives Panetta, Blumenauer and Thompson to pass the E-BIKE Act in the 117th Congress.
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.