Green Scene: Bicycle Bailout

It seems these days that everyone wants a piece of the $700 billion bailout bill, and now you, Philadelphia bicyclist, can have your piece of the monetary pie. Hidden within the bailout bill was a provision for anyone who bikes to work "regularly" to receive a $20 a month tax break from their employers, courtesy of the federal government.

Legislators hope that the $20 can help defray the cost of things like tubes, tires, and occasional tune-ups. And since Philadelphia is such a bike-friendly city, now there’s more incentive than ever to lessen your carbon footprint via pedal power.

So, how do I get this money, you’re probably asking yourself right now. That’s where it gets a little tricky. You can’t just sign yourself up. Here’s what you need to do:

First, the provision doesn’t start until January 1, so that gives you some lead time on step number two: you need to convince your employer to sign up to participate in the program.

Many employers already offer their employees transportation benefits for commuting expenses, usually in the form of cash reimbursement or a tax benefit. Now companies and organizations can do the same under the Bicycle Commuter Act. Employers can save all income and payroll taxes on the money they dole out to their employees to cover the cost of commuting. That means, your company can save an extra $240 per year, per employee bicyclist, while at the same time showing concern for the environment. It’s a win-win situation.

Currently, the League of American Bicyclists is working feverishly to try to ensure that implementation guidelines are set up before year’s end, so check their website for information that you can pass along to your boss. And, you can send a little thank you note to two Oregon legislators, Congressman Earl Blumenauer (D-OR) and Senator Ron Wyden (D-OR), for getting this bill through the morass of the legislative branch.

In the meantime, if you’re not already a bike commuter, get thee a bike. You’ll save on gas and/or transpass money and even have a little extra dough in your pocket at year’s end.

Image credit: Flickr user tandemracer