Electric motorcycle tax credit may be extended
August 04, 2012
Buyers of on-road electric motorcycles would continue to be eligible for up to a $2,500 tax credit under a bill approved by the U.S. Senate Finance Committee, the American Motorcyclist Association reports.
On Aug. 2, the panel approved bipartisan legislation extending dozens of tax breaks, including language offered by U.S. Sen. Ron Wyden (D-Ore.) to preserve the tax credit for buying electric motorcycles designed for the street.
"Right now, companies like [electric motorcycle maker] Brammo in Oregon are keeping the American electric vehicle industry on the cutting edge, "Wyden said. "But without an extension of this tax credit for the purchase of electric motorcycles, we could be stifling this innovative new industry in its infancy."
Wayne Allard, AMA vice president for government relations, thanked his former U.S. Senate colleague for his efforts.
"This credit will benefit family-owned dealers, manufacturers and riders of motorcycles," Allard said. "Also, motorcycles reduce traffic and parking congestion and reduce impacts to our roads and bridges compared with automobiles and light-duty trucks. Electric motorcycles are certain to play an ever-increasing role in motorcycling."
The measure now goes to the full Senate for consideration.