Those of you looking into getting a electric bike or motorcycle – you’re in luck. The Senate Finance Committee has just approved a $2,500 tax credit for those looking to shop in the EV bike industry.

The amendment was introduced by Sen. Ron Wyden, D-Oregon. He want to to reinstate the tax break that was approved in 2009 as part of the $800 billion stimulus package. The tax break was necessary with ‘thousands of jobs on the line’ and will cost $15 million over 2 years.

Under the tax break, the EV bikes will be eligible for a 10 percent federal tax credit up to a maximum of $2,500.

“This is about good paying American jobs,” Wyden said. “These jobs are going to go somewhere. … Are they going to be red white and blue jobs or are they going to be developed by our competitors?”

- By: Omar Rana

Source: Detroit News