PICKERINGTON, OH – August 5, 2012 – (Motor Sports Newswire) – 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.
About the American Motorcyclist Association
Since 1924, the AMA has protected the future of motorcycling and promoted the motorcycle lifestyle. AMA members come from all walks of life, and they navigate many different routes on their journey to the same destination: freedom on two wheels. As the world’s largest motorcycling rights organization, the AMA advocates for motorcyclists’ interests in the halls of local, state and federal government, the committees of international governing organizations, and the court of public opinion. Through member clubs, promoters and partners, the AMA sanctions more motorsports competition and motorcycle recreational events than any other organization in the world. AMA members receive money-saving discounts from dozens of well-known suppliers of motorcycle services, gear and apparel, bike rental, transport, hotel stays and more. Through the AMA Motorcycle Hall of Fame, the AMA honors the heroes and the heritage of motorcycling for future generations. For more information, please visit AmericanMotorcyclist.com.