$700 Billion Bailout Includes Tax Break for Bicycle Commuters
Tacked on last minute to the $700 billion bailout, bicycle commuters across the nation will be eligible for for a tax benefit that is already available to both train & bus commuters.
After $700 billion of our American tax dollars just went to bail out private banks, it’s a small relief that some laws were squeezed into that deal, with the sole purpose of benefiting people and the planet.
Starting January 1st, those who commute via bicycle to work are eligible to receive $20.00 per month in tax-free reimbursements from their employer. The reimbursement is meant to defray the costs of owning and operating a bike. Employers can deduct this expense from their federal taxes.
