Bicyclists get a bailout break.
Starting in January, you can get paid to ride your bicycle to work. It’s all thanks to the $700 billion bailout passed by Congress to goose our failing economy back to productivity. Workers who use their bikes as primary transportation to and from their jobs will be eligible for $20 a month from their employers. In return, employers can deduct the expense from their federal taxes. Bike advocates have lobbied for the tax break for seven years, but it took the bailout package to get the biking benefit “squeezed in,” reports the San Francisco Chronicle. The federal government is expected to receive $1 million less in taxes because of the subsidy.
