Wyden Electric Motorcycle Amendment Passes in Fiscal Cliff Package
Washington, D.C. – U.S. Senator Ron Wyden (D-Ore.) successfully included his amendment to extend and reform the tax credit for buying new electric motorcycles as part of the fiscal cliff packaged passed New Years’ Day.
“The electric motorcycle industry is poised to create tens of thousands of U.S. jobs over the next five years, led by companies like Oregon’s Brammo,” Wyden said. “This amendment helps promote the development of a promising U.S. industry and support the transition to a low-carbon American economy.”
Wyden’s amendment combined existing tax credits for all electric vehicles to one credit that includes electric motorcycles. It specifically 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. You can view the amendment, which is Section 403 of the fiscal cliff bill, here.