“Build Back Better” Act Will Give Electric Motorcyclists 30% Tax Break

[admin]

Over the weeks, I’ve noticed a trend among the good readers of wBW.

Y’all either love or hate electric motorcycles.

And for those of you that love ‘em, there’s always a hefty MSRP to complain about.

Not that we blame you – Yoinking out $21,999 for Harley-Davidson’s LiveWire One in a day and age where technology is advancing at the speed of light is ballsy, and we commend you.



To that effect, we’re about to step into the the legislature of the federal government of the United States – because if Jalopnik is right, American’s are about to get a huge tax break on their electric motorcycles, and at this point, any sort of credit would be peachy.

The report states that the “Build Back Better” act has been revised and edited for months by the Congress, with relief only breaking this past Friday as a version of the bill was finally passed.



The bill’s decree? As of Friday, November 19, a 30% tax credit for e-bikes and electric motorcycles will be considered, though the report states that the credit tops out at $1,500 for e-bikes, and $7,500 for electric motorcycles.

“The credits are fully refundable, meaning you don’t need to owe $7,500 in taxes to get $7,500 in returns, but they’re limited by income — the credit starts to phase out once you earn above $75,000 per year. Those two stipulations point to a credit specifically designed to make EVs accessible to lower-income people, an admirable endeavor for Congress to undertake.”



Keep in mind – just because a bill is passed doesn’t mean that it has been approved. They still have a long haul through the Senate and the President’s desk before becoming law – but we can hope.

We will keep our ear low to the ground for you on this story; in the meantime, drop a comment below – we read every single one, and love to hear from you.

Be sure to also brush up on new bikes to be featured at EICMA tomorrow, and as always – stay safe on the twisties.

The post “Build Back Better” Act Will Give Electric Motorcyclists 30% Tax Break appeared first on webBikeWorld.

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[melensdad]

What is odd is that the VAST MAJORITY of the tax breaks for vehicles go to the people in the income brackets who can afford to buy NEW vehicles.

So basically to the upper-middle and upper classes. I'll admit that 2 of my primary vehicles have received "alternative fuel" tax credits and I was glad to take those tax credits. In another case I traded in an expensive convertible coupe on a luxury SUV, which was heavy enough to qualify as a 'truck' and received a tax credit so large as to make a profit on the trade in.

Somehow that seems to me like the middle class are paying for tax breaks for the wealthy.

Personally I'm not complaining.

Morally I feel that it is wrong.

No different that giving "college loan forgiveness" helps the upper middle classes while the middle class works pay the taxes but their children statistically don't attend colleges so they don't get the benefit that they pay for.

/rant off

 

[670cc]

There’s a big descrepency between the articl’s title and it’s text.

“Build Back Better” Act Will Give Electric Motorcyclists 30% Tax Break​

As of Friday, November 19, a 30% tax credit for e-bikes and electric motorcycles will be considered,

 

[670cc]

What is odd is that the VAST MAJORITY of the tax breaks for vehicles go to the people in the income brackets who can afford to buy NEW vehicles.

A good percentage of new vehicles are probably purchased by people that can’t afford to buy them.

 

[melensdad]

A good percentage of new vehicles are probably purchased by people that can’t afford to buy them.

A good percentage of expensive electric vehicles are purchased by upper classes. There is plenty of data to show that.

 

[670cc]

A good percentage of expensive electric vehicles are purchased by upper classes. There is plenty of data to show that.

Yes. You’re right. I misread your original comment.

Well, I suppose the high cost of products in their initial rollout needs to be absorbed by those affluent enough to bear the cost. It’s gotta start somewhere.

I remember in the ’70s a digital watch costing $300 and a four banger calculator going for $100. I guess the upper classes got the ball rolling on those products until they became affordable to the masses.

 

[melensdad]

Yes. You’re right. I misread your original comment.

Well, I suppose the high cost of products in their initial rollout needs to be absorbed by those affluent enough to bear the cost. It’s gotta start somewhere.

I remember in the ’70s a digital watch costing $300 and a four banger calculator going for $100. I guess the upper classes got the ball rolling on those products until they became affordable to the masses.

But the government didn't give tax credits, funded by the middle classes, to the upper classes for the express purpose of purchasing those goods.

As I stated, I've benefited multiple times from government wealth redistribution, where I purchased goods not commonly affordable by hourly workers or even their managers, only to have the tax credit given to me. It is not right that they should help pay part of the burden of my luxury choices.