Electric bike use is on the rise in the U.S. and several lawmakers in the U.S. House of Representatives have recently re-introduced the E-Bike Act. The bill would provide a refundable federal tax credit of 30% of the purchase price of a new electric bike up to $1,500.
If this e-bike tax credit sounds familiar, that’s because the "Electric Bicycle Incentive Kickstart for the Environment Act" was initially proposed two years ago in President Biden’s Build Back Better plan. Build Back Better eventually morphed into the Inflation Reduction Act (IRA) — massive legislation, passed last year, that contains billions of dollars in clean energy tax credits (including an EV tax credit). But the national electric bike tax credit didn’t make it into the IRA.
