Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Business A man rides an electric bicycle near the pier in Huntington Beach, CA

A man rides an electric bicycle near the pier in Huntington Beach, CA (Photo by Paul Bersebach/Orange County Register via Getty Images)

By Savannah Young Leaders Staff

Savannah Young

Savannah Young

News Writer

Savannah Young is a news writer for Leaders Media. Previously, she was a digital reporter for WATE Channel 6 (ABC)...

Full bio


Learn about our editorial policy

Apr 3, 2023

The New Electric Vehicle Push—E-Bikes

As the U.S. pushes toward decarbonization, a new tax credit could soon be issued for electric bikes (e-bikes) as an alternative to cars.

Key Details

  • A newly proposed bill called the Electric Bicycle Incentive Kickstart For the Environment (E-BIKE) Act would create a new tax credit for consumer e-bike purchases.
  • The proposal would cover up to 30% of an e-bike’s cost, with credits maxing out at $1,500 for e-bikes costing up to $8,000.
  • Single filers making less than $150,000 or joint filers making less than $300,000 would be eligible for the full credit, according to Axios.

Why it’s news

E-bikes are bicycles equipped with an electric motor to help riders go faster and farther while using less energy and are an environmental alternative to cars—helping the U.S. push for fewer vehicle emissions.

U.S. lawmakers have introduced the Inflation Reduction Act that gives tax credits to consumers who purchase electric vehicles (EVs) and avoid buying gas-powered cars. One problem is—EVs are more expensive than gas-powered cars, and even with the tax credits, many Americans cannot afford to switch to electric.

A more affordable electric option is e-bikes. Although e-bikes are much more affordable than EVs, they are still considered pricey for a bicycle. Many well-reviewed models cost over $1,000, and more high-end versions go for more than double that.

To help more Americans afford bikes and further the push to electric transportation, four Democratic House members and one Democratic senator recently introduced bills in their respective chambers that would create a new tax credit for consumer e-bike purchases, according to Axios.

The new proposal would cover up to 30% of an e-bike’s cost, with credits maxing out at $1,500 for e-bikes costing up to $8,000. It follows Denver’s successful e-bike rebate program that offered income-qualified residents up to $1,400 toward an e-bike and others up to $500.

Denver’s e-bike rebate program “was estimated to have cut 2,040 metric tons of carbon dioxide in 2022 and saved nearly $1 million in avoided fuel and electricity costs,” Axios’ Alayna Alvarez recently reported.

Many Americans rely on vehicles to get to their destinations, but this new tax credit could boost more consumers to opt for a bike instead of a vehicle, especially in urban areas such as New York City.

“Although we’re seeing more and more people on e-bikes in our communities, more needs to be done to ensure that everybody across our country has access to this form of transportation,” Representative Jimmy Panetta (D-CA), E-BIKE Act sponsor, said in an interview with Axios. 

This is not the first time the e-bike tax credit has been introduced. It was originally proposed when the plans for the Inflation Reduction Act were being set in place but was ultimately turned down.

The bill was turned down mainly because many lawmakers were skeptical that the money put into the tax credits would actually help e-bikes become a driving force toward decarbonization, and many still question it. Many lawmakers think bikes will never overpower America’s need for cars.

Plus, opponents argue that providing credits of $1,500 for a bicycle is not a prudent use of taxpayer money, as we are currently spending $80 billion to support Ukraine against attack by Russia and with the national deficit reaching it highest level ever.

Lawmakers are leaning into the success of Denver’s rebate program with hopes of the tax credits pushing more Americans to adopt bikes nationwide.

The push for e-bikes

Walmart is pushing to have 10% of the retailer’s workforce at its headquarters in Bentonville, Arkansas, commute by bike or in any way other than riding alone by 2025 to promote healthy worker commutes.

To count toward the 10%, an employee must use alternative travel modes two or three times a week for a year. Currently, fewer than 1% of Bentonville’s employees meet the company’s goals, according to Walmart.

Having employees carpool and drive bikes and scooters to work will limit emissions released by employees, alleviate some of the traffic on the roads in Bentonville, and make employees healthier, happier, and more productive.

The new tax incentive for e-bikes will help more workers afford electric bikes and help Walmart push forward with its goal. If the goal is met and helps boost worker productivity and happiness, it is likely that more businesses will institute similar goals in the future.

Home / News / The New Electric Vehicle Push—E-Bikes
Share
FacebookTweetEmailLinkedIn

Related Stories

Driving Down the Price Of Eggs 

by Tyler Hummel Leaders Staff
Markets

28 minutes ago

The price for a dozen eggs has dramatically decreased in recent months after hitting record highs in January. 

Key Details

  • The U.S. Department of Agriculture’s most recent numbers put wholesale price averages between $1 and $1.40 across the country, down from $5.46.  
  • The Department of Labor reports retail prices dropped from $4.82 per carton in January to $3.27 in April. Most major retailers are reporting prices below $2 as of June 4, The Wall Street Journal reports.  
  • As we previously reported, some regions of the country saw empty shelves or even higher prices, with California ($6.72) and New York City ($8.79) reporting some of the highest prices per carton.

Go deeper

FacebookTweetEmailLinkedIn

A Strategic Push To Manufacture In the U.S.

by Hannah Bryan Leaders Staff
Productivity

About an hour ago

manufacturing

After pandemic-related issues in China, manufacturers are looking for alternative locations to produce their products—and some are looking at the U.S.

Key Details

  • China has long been the world’s factory, but a new push for “re-shoring” is encouraging manufacturers to move their facilities closer to their customers—and out of China. 
  • At the same time, China is slipping in prominence as a manufacturer, and the war between Russia and Ukraine continues to affect supply chains, CNBC reports.
  • Domestic manufacturing, or at minimum multiple resource options, is one answer to concerns about losing access to supply chains. 
  • The U.S. has already promoted domestic manufacturing of electric vehicle components and semiconductor chips. 

Go deeper

FacebookTweetEmailLinkedIn

The Dramatic Rise And Fall Of SPACs

by Hannah Bryan Leaders Staff
Markets

3 hours ago

SPACs fall

After making small fortunes off failed startups through special-purpose acquisition companies (SPAC), a wave of lawsuits is threatening the businessmen and the growing industry that cut the deals. 

Key Details

  • A round of lawsuits from burned investors is coming for executives such as Chamath Palihapitiya and Alec Gores, who made small fortunes from the failures of newly public companies. 
  • The pandemic saw a rise in SPACs-funded company takeovers of a litany of startups, Bloomberg reports. 
  • The lawsuits claim that SPAC executives pushed through deals that would allow them to profit from their founder shares.
  • Executives were allegedly incentivized to finalize acquisitions even if the plans created risks for shareholders, Bloomberg reports. 

Go deeper

FacebookTweetEmailLinkedIn
financial stress
Business

6 hours ago

What’s Dragging Down Americans’ Mental Strength

by Hannah Bryan Leaders Staff
Public Policy

Jun 5, 2023

Perjury, Rubio Says Of the TikTok CEO 

by Tyler Hummel Leaders Staff
Loans and Borrowing

Jun 2, 2023

Student Loan Payments May Harm the Economy 

by Tyler Hummel Leaders Staff

Recent Articles

Personal Growth

5 hours ago

The Executive’s Secret Weapon: Morning Meditation for Increased Productivity and Focus

Learn why leaders and executives practice morning meditation for performance.

Leadership

Jun 1, 2023

Transforming Impulsive Behavior: Unleashing the Disciplined Leader Within

Impulsivity can cause financial problems, reputation damage, and legal issues.

Leadership

May 31, 2023

Self-Sacrificing and Hate Attention? You May Be an Echoist, the Opposite of a Narcissist

An echoist, the opposite of a narcissist, is selfless, but lacks boundaries and self-esteem.

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com

x