Bailout Gives Tax Break to Bicycle Commuters
"Starting in January, workers who use two-wheelers as their primary transportation mode to get to and from work will be eligible for a $20-a-month, tax-free reimbursement from their employers for bicycle-related expenses. In return, employers will be able to deduct the expense from their federal taxes.
"It significantly legitimizes bicycling and elevates it to a credible commute mode, like riding a bus or train," said Andy Thornley, program director for the San Francisco Bicycle Coalition.
The money could be used to purchase, store, maintain or repair bikes that are used for a substantial portion of an employee's commute.
Bike advocates have been trying for seven years to get such a provision passed in Washington, but came up short until Congress rushed through the Wall Street bailout package last week and lawmakers squeezed in pet projects. The bicycle benefit was championed by members of the Oregon delegation."
Thanks to rob bregof