• pumpchilienthusiast [comrade/them, any]
    ·
    3 years ago

    Yes, but the cutoff will be much higher because we must prop up the happy motoring society at all costs.

    a refundable tax credit worth 30 percent of a new e-bike’s purchase price, capped at $1,500. Bikes that cost more than $8,000 would not be eligible, and the 30 percent credit starts to phase out for bikes that cost more than $5,000. The program is also means-tested based on tax status, meaning the credit would begin phasing out $200 for every $1,000 spent on the purchase for individuals who earn $75,000, heads of household earning $112,500, and married couples who file jointly earning $150,000. https://www.theverge.com/2021/10/28/22751273/ebike-tax-credit-build-back-better-biden

    • pumpchilienthusiast [comrade/them, any]
      ·
      3 years ago

      Actually, here's a better link: https://www.fastcompany.com/90692231/the-build-back-better-act-wants-you-to-buy-an-electric-car-an-electric-bike-not-so-much

      According to the latest version of the Build Back Better framework, if you’re looking to purchase an EV, you can expect a total of $12,500 tax credit, if the vehicle meets certain domestic assembly and battery capacity requirements. That’s available to individuals earning up to $400,000 (or $800,000 for joint tax returns). For electric bicycles, the bill includes a credit for 30% of the cost of an e-bike priced under $5,000, for a maximum credit of $1,500. The baseline income cap for that credit is $75,000 for an individual, $112,500 for a head of household, and $150,000 in the case of a joint return. The credit gets reduced by $200 for each $1,000 that a taxpayer’s gross income exceeds those caps.