Bicycle Fixation Weblog
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10/08/2008: "A Sliver of Silver..."
...Silver lining, and perhaps silver in your pocket. One of the sweeteners added to the hideous Corporate Pirate Protection Act--excuse me, the Wall Street bailout--to garner a few more votes was a provision allowing employers to offer employees who bicycle to work up to $20 a month for upkeep and maintenance as a tax-free benefit, subject to qualifications. As Wired notes:
Titled "Transportation fringe benefit to bicycle commuters," Sec. 211 of the Bailout Bill says bike commuters are eligible for reimbursement expenses including purchase of a bicycle, bicycle improvements, repair and storage. Over a calender year, bike commuters can receive up to $20 a month covered by their employer as a tax-free benefit.
To read more, see the post on Wired's blog.