E-bikes and electric motorcycles could be getting a nice tax credit from The Build Back Better Act that's currently going through congress.
The version that passed the house of representatives includes a 30% tax credit for e-bikes and electric motorcycles!
The credit tops out at $1,500 for e-bikes, and $7,500 for electric motorcycles.
The credit tops out at $1,500 for e-bikes, and $7,500 for electric motorcycles. At that 30% rate, that means you’ll be spending $5,000 on an e-bike to see the full potential of the credit — though no more than $8,000, the value at which the credit disappears. For motorcycles, getting the full $7,500 back means spending $25,000 on your new ride.
The credits are fully refundable, meaning you don’t need to owe $7,500 in taxes to get $7,500 in returns, but they’re limited by income — the credit starts to phase out once you earn above $75,000 per year. Those two stipulations point to a credit specifically designed to make EVs accessible to lower-income people, an admirable endeavor for Congress to undertake.