Thanks Uncle Sam!

By: Honor Roll Scooters

Sep 24 2012

Category: Uncategorized

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Electric-vehicle production just got another boost from Uncle Sam. The Senate Finance Committee has approved a $2,500 tax credit for electric bicycles and electric motorcycles. The goal of the bill, backers say, is to create and keep U.S. jobs by encouraging growth of American manufacturers like BRD and Zero through consumer incentives.

Under the bill, electric bicycles and motorcycles will be eligible for a 10 percent federal tax credit of up to $2,500. Senator Ron Wyden of Oregon (home of Brammo, an electric motorcycle manufacturer) introduced the amendment to reinstate the 2009 tax break that was part of the $800 billion federal stimulus package. The original amendment expired January 1, 2012 and cost roughly $15 million over two years.

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