Why was the bicycle commuter act part of the financial rescue package?
The Bicycle Commuter Act has been in front of Congress for seven years; it’s a simple, equitable provision that puts cyclists on the same footing as people who get tax breaks for taking transit or driving (or parking, actually) their cars to and from work. The total anticipated cost of the provision, estimated by the Joint Committee on Taxation, is a very modest $1 million per year, as compared to the $4.4 billion annual cost of parking and transit benefits. The bike provision was part of a larger Renewable Energy Tax Credit Initiatives legislation. Varying versions had passed both the House and Senate but the two houses were unable to compromise on one version. The Senate strategically attached a number of provisions to the Financial Rescue Package to ensure their passage before recess. These included the Renewable Energy Tax Credit Initiatives; the Alternative Minimum Tax adjustment; extensions of expiring tax cuts for businesses and families; natural disaster relief; and parity for
The Bicycle Commuter Act has been in front of Congress for seven years; it’s a simple, equitable provision that puts cyclists on the same footing as people who get tax breaks for taking transit or driving (or parking, actually) their cars to and from work. The total anticipated cost of the provision, estimated by the Joint Committee on Taxation, is a very modest $1 million per year, as compared to the $4.4 billion annual cost of parking and transit benefits. The bike provision was part of a larger Renewable Energy Tax Credit Initiatives legislation. Varying versions had passed both the House and Senate but the two houses were unable to compromise on one version. The Senate strategically attached a number of provisions to the Financial Rescue Package to ensure their passage before recess. These included the Renewable Energy Tax Credit Initiatives; the Alternative Minimum Tax adjustment; extensions of expiring tax cuts for businesses and families; natural disaster relief; and parity for
