In Europe, EV manufacturers benefit from government support, and individuals earn tax credits when buying EVs, lowering their price dramatically in a bid to make them more popular. In fact, consumers would get up to 30% of their total e-bike purchase back come tax season. The Act promises to provide tax credits to individuals seeking to purchase a new e-bike. They want to drastically reduce carbon emissions by getting more cars off the streets. Congressmen Jimmy Panetta and Earl Blumenaurer of California and Oregon were inspired to propose the Electrical Bicycle Incentive Kickstart for the Environment (E-BIKE) Act. Other government officials are following suit. The President also hopes to have a million charging stations scattered across the country by 2030. He also plans to make electric vehicles more affordable by offering rebates, tax credits, and other incentives.
Despite his love for his 1967 Corvette, President Biden plans to spend up to $174 billion to get Americans behind the wheels of electric cars. The current US administration has big plans for electric vehicles.
But would you give up your car for a large EV tax credit? Harley-Davidson has spun off its EV division, and is launching the Serial 1 e-bike brand as an affordable fun/commute vehicle. Would you abandon your car if given a Federal tax credit to buy an E-Bike? Despite the 2021 tax deadline being pushed back to May 17, thousands of Americans are still scampering to organize their paperwork to enjoy hefty tax refunds under the new tax code.
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