Tax Deductions for Bike Commuting?

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By Charles Pekow — If you bike to work, would you like to take a tax deduction for it? Of course you would. Legislation has been introduced in both houses of Congress to restore the lost credit. Under the Bicycle Commuter Act of 2021 (S. 1892, H.R. 384), it would be possible to take credit for the cost of repair and storage of your bike if you use it regularly to get to and work or to connect to mass transit on the way, starting next year. Your employer would have to offer the credit.

The benefit would include eBikes and bikeshare. The bills were referred to the Senate Finance Committee and House Ways and Means Committee. They had to be kept separate from the major transportation legislation because they involve taxes and have to go to the tax-writing committees, as opposed to transportation committees.

Read the bill at https://www.congress.gov/bill/117th-congress/house-bill/384/text

 

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