Tax Credits and Low-Interest Loans to Boost US Bicycle and E-Bike Manufacturing.
This law aims to bring bicycle and e-bike production back to the United States, potentially increasing the supply of domestic products. It temporarily removes tariffs on imported components used for domestic assembly and provides tax credits for companies manufacturing e-bikes locally. Furthermore, it establishes a low-interest loan program (up to 1%) to help businesses invest in the necessary equipment, supporting job creation in manufacturing.
Key points
Tariff Relief for Parts: US manufacturers will not pay duties on imported bicycle parts if those parts are used to assemble complete bikes domestically for a period of 10 years.
E-Bike Production Tax Credit: Companies producing e-bikes in the US can claim a tax credit, starting at 20% of the bicycle's sale price, phasing out by 2035.
Low-Cost Loans: Businesses can access loans with interest rates capped at 1% (up to $50 million per business) to purchase manufacturing equipment, provided they pay prevailing wages to employees.
Expired
Citizen Poll