Another Reason to Keep on Bikin'

Whether you're for it or against it, the $700 billion bailout bill was signed into law. And believe it or not, there's something in the bill that makes us glad that we use our bike for transportation -- Sec. 211, titled "Transportation fringe benefit to bicycle commuters."

posted originally from: AT:San Francisco

Plainly speaking, it says that bike commuters, over a calendar year, can receive $20 a month tax-free from their employers to use for purchasing a new bike, repairs, or improvements. Altogether, that only adds up to $240 a year, but hey, that $240 we didn't have to spend on bike stuff before.

Of course, as with any law, there are restrictions and fine print, but we're glad to hear about something that promotes healthy living, and maybe will get more people to bring out those dusty bikes from out of the garage and out onto the streets. Bike on!

Via: Wired.com

Comments (3)

I need more information... are they forced to do this? How is it supposed to be implemented?

posted by hipersons on October 14th 2008 at 4:27am
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Yeah, I'm wondering how many employers are going to get on board with this. So it's tax-free for me, but how would my boss benefit? It *sounds* nice. It would make more sense to make bike expenses tax-deductible without any reference to whether your employer gave you money or not.

posted by Jezebella on October 14th 2008 at 5:52am
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Hey I have that same bell on my bike, only in pink.

posted by wesaturtle on October 14th 2008 at 7:07am
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