Electric Motorcycles Can Now Get up to $2500 in Tax Credit
August 4th, 2012
The federal government is really pushing electric vehicles of all sorts. The Obama administration has offered tax credits on the purchase of electric vehicles to help lure drivers to ditch fossil fuels and purchase more environmentally friendly electric cars and trucks. If you’re not the kind of person who wants a car, but electric motorcycle are of interest, you can now get your own tax credit.
The Senate has voted to approve tax credits for electric bicycles and motorcycles, like the cool RedShift electric bikes, of up to $2500 (USD). The tax credits are good for 10% of the purchase price up to a maximum of $2500. The goal of the tax credits is not only to help reduce some of our dependence on foreign oil, but to also spur the creation of jobs in the electric bicycle and motorcycle industry.
The tax credit is estimated to cost US taxpayers $15 million over the next two years. The Senate did vote to repeal a similar tax credit on electric golf carts. After all, why should we be paying tax credits to golfers?