Bicycle Commuter Tax Provision Passes House and Senate (10.03.08)
After seven long years, the bicycle commuter tax provision has finally passed both the House and Senate as part of the financial bailout package. President Bush said that he would quickly sign the $700 billion bailout bill. Thanks to all of you around the country who have contacted your congressional leaders over the years, and also thanks to Congressman Blumenauer and Senator Wyden for their continued insistence on having this benefit provided to bicycling Americans. Keep checking back here as we work on the implementation process.
League of American Bicylcists
The benefit — up to $20 per month — begins with the new year in 2009. Employers may reimburse employees, tax free, for “reasonable” expenses related to their bike commute, including equipment purchases, bike purchases, repairs, and storage if the bicycle is used as a “substantial part” of the commuter’s trip to work for the month. If you already receive another commuter tax-free fringe benefit (like a Commuter Check or EcoPass), you don’t qualify, so multimodal commuters are out of luck.
http://www.cyclelicio.us/
I would hope that tack on legislation like this is due to the lack of time left in the work year for congress.