Wyden Amendment Extends Tax Credit for Electric Motorcycle Purchases
Washington, D.C. – With the electric motorcycle industry poised to create thousands of American jobs over the next five years, U.S. Senator Ron Wyden (D-Ore.) was able to successfully extend and streamline the tax credit for the purchase of new electric motorcycles as part of the tax extenders package being debated in the Senate Finance Committee.
“Right now, companies like 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. This amendment will combine existing tax credits into one credit covering all highway-ready vehicles. It will support red, white and blue jobs and a new American-led industry that has real promise to serve our growing transportation and environmental needs.”
Craig Bramscher, CEO of Brammo, said, “this tax credit has helped many U.S. buyers of our motorcycles make the decision to become early adopters of EV technology. With the extension of the tax credit, we are confident that the next wave of electric motorcycle owners will be encouraged to take to the road on zero emission vehicles. We're assembling these motorcycles right here in Oregon and be will expanding our workforce to make that possible. This, of course, continues to ripple across our suppliers and dealer network.”
Wyden’s amendment combined existing tax credits for all electric vehicles to one credit that includes electric motorcycles. It also eliminated low speed vehicles like electric golf carts from being eligible for the consolidated tax credit. The renewed credit will provide up to a $2500 tax credit to customers for the purchase of an electric motorcycle. The electric motorcycle industry is expected to create nearly 2,000 jobs in just the next 18 months and more than 16,000 jobs over the next 5 years.