Rep. Earl Blumenauer (D-OR) and Sen. Ron Wyden (D-OR) are joining cycling advocates to introduce the Bike Commuter Act in Congress this week. The bill amends a section of the IRS code to include "bicycles" in the definition of transportation covered by fringe benefits. It provides incentives for employees to ride to work, recognizing that more than 50% of people commute five miles or less to their jobs and could easily do it on a bicycle, particularly if there's money to be made. With financial incentives presently offered for various types of commuting, Blumenauer and Wyden figure it's time to include cyclists in the Transportation Fringe Benefit. Unfortunately, the news release didn't say what the incentive would be. Perhaps that's part of the debate. Excerpted from roadbikerider.com
Every year as I file my taxes and come across the exemption for hybrid vehicles. I've often wondered why they didn't encourage people to ride a bus, bikes, or walk. Perhaps it will finally become a reality.