Possible Extension for Electric Motorcycle Tax Credits!
On the fence about buying that shiny new electric motorcycle (Brammo)? Perhaps its just a little outside your price range? You just may be in luck as a new bill to extend the federal tax credits that expired at the end of 2011 has just got approved (on August 2nd) by the U.S. Senate Finance Committee. Thanks in part goes to Oregon senator Ron Wyden (D) who had this to say:
“Right now, companies like Brammo in Oregon are keeping the American electric vehicle industry on the cutting edge. 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.”
The tax credit, of 10% (up to $2500), applies to on road electric motorcycles resulting in the following discounts:
- Empulse R MSRP: $18995.00 Tax Credit: $1899.50 Price after credit: $17095.50
- Empulse MSRP: $16995.00 Tax Credit: $1699.50 Price after credit: $15295.50
- Enertia Plus MSRP: $10995.00 Tax Credit: $1099.50 Price after credit: $9895.50
The bill is still subject to full senate approval which many expect wont happen until after November elections. If the legislation is approved it will also apply to ALL on-road electric motorcycles purchased this year through 2013, so those who purchased an electric motorcycle earlier this year will also be eligible for the tax credit. Wyden says that the total cost of the provision is $15 million over the 2 year extension and will create or retain thousands of jobs. Those new jobs will provide a lot of tax revenue from a relatively small investment, a win win for taxpayers, and electric motorcycle customers!