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  1. #1
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    I usually HATE pork barrel in legislation, but this one's OK

    Anyone know the details for HR1412, the $700B Congressional Bailout of US Banks, SECTION 130. TRANSPORTATION FRINGE BENEFIT TO BICYCLE COMMUTERS.

    It appears that any bicycle purchases will be tax deductible if it's used to ride to work.

    Sure hope that it doesn't get clipped out of the bill....

  2. #2
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    Great find. I hope it stays in

  3. #3
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    Impossible to regulate. All of my bicycles are used to ride to work and everywhere else. How about a huge tax benefits for individuals that do now have a registered automobile?

  4. #4
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    I didn't read it(not sure how to find it). Maybe they could give a benefit to the employer who passes it on to the cyclist?

  5. #5
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    Last edited by HardyWeinberg; 10-02-2008 at 09:55 AM.

  6. #6
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    Quote Originally Posted by xbmxer
    http://www.bicycleretailer.com/news/newsDetail/1878.html
    Thanks xbmxer, that clarifies it, and what a backhanded "benefit". No thanks....

  7. #7
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    "The $20 a month tax relief per bicycle commuting employee is to cover the cost of any employer reimbursement for reasonable expenses incurred by the employee “for the purchase of a bicycle and bicycle improvements, repair, and storage, if such bicycle is regularly used for travel between the employee’s residence and place of employment.” "

    So, if my employer reimburses me for my expenses, they can get credited up to $20/mo. If it could be made to work it might be cool but it sounds hard to manage.

  8. #8
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    My wife gets I think $4/day to bike-commute (or take the bus for that matter) so I suppose that benefit would become available to her employer.

  9. #9
    Slowly but surely...
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    News says that provision was put in to get Rep. Earl Blumenauer (D-Ore.) to change his vote from no to yes. To bad they didn't put one in so we could write it off on our taxes
    The secret to mountain biking is pretty simple. The slower you go the more likely it is you'll crash.
    - Juli Furtado

  10. #10
    In the rear with the beer
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    The admin costs to the company to try to track/manage this would probably be >$20....since i'm the only bike commuter here, I think this is gonna be a tough sell....
    Salvation Outdoor
    "Take it Outside...Again!!!"

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