October 20, 2008

Commuting by bike saves in one more way

New tax law gives bicyclists subsidy
Buried deep in the federal Emergency Economic Stabilization Act — the $700 billion Wall Street bailout — is an unexpected boost for the greenest of commuters.

With a tax-code change, beginning in January, companies can give up to $20 a month to workers who pedal to work. It would be tax-free to cycling commuters, and a tax write-off for employers.

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