Bicycle Commuters Get Break under Bailout Package

The $700 billion bailout plan benefits some taxpayers directly—those who commute by bike. Employees who ride bicycles to work as their primary mode of transportation will be eligible for a $20-a-month tax-free reimbursement starting in January. Employers will reimburse workers and then deduct the expense from their federal taxes. The money can be used to purchase, store, maintain or repair bikes. Federal tax rolls could lose about $1 million because of the new write-off. Members of the Oregon delegation championed the bicycle benefit. For more information, go to http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/09/BA1D13DRO7.DTL

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