The Senate’s E-BIKE Act could make electric bikes a lot cheaper
A bill that would offer Americans a refundable tax credit on the purchase of a new electric bicycle was just introduced in the Senate by Ed Markey (D-MA) and Brian Schatz (D-HI). The bill is called the Electric Bicycle Incentive Kickstart for the Environment, or E-BIKE Act for short, and it’s the companion bill to one introduced in the House of Representatives earlier this year.
E-bikes are more expensive than normal bikes, typically costing anywhere from $1,000 to $8,000 for some of the more high-end models. But they also have the potential to replace car trips for a lot of people, with a recent study finding that if 15 percent of car trips were made by e-bike, carbon emissions would drop by 12 percent.