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Written by Josh Norton
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Sunday, 09 November 2008 17:08 |
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The $700 billion federal bailout bill has a few silver linings for US citizens. One of them is a federal tax benefit that will provide bicycle commuters with a $20/month, tax-free reimbursement from their employers for bicycle-related expenses. Though the $20/month perk will not cover all actual expenses for the typical bicycle commuter, the tax break will help raise awareness of bicycling. Bike advocates have been trying for seven years to get such a provision passed in Washington, but came up short until Congress rushed through the Wall Street bailout package last week and lawmakers squeezed in pet projects. The bicycle benefit was championed by members of the Oregon delegation. Backers estimate that the federal tax rolls may lose out on about $1 million a year due to the new employer write-off, according to the advocacy group League of American Bicyclists. Willy Dommen, 49, regularly rides his bike from his San Anselmo home to his job as a management technology consultant in San Francisco's Financial District. He said the $20-a-month perk for cyclists won't amount to much in term of covering actual expenses. But, he said, it will help raise awareness of bicycling, "and that recognition is great." <more>
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