News

Jun 11, 2023

Electric Everything: Electric Motorcycle Parity Act of 2023 Readies for Senate Introduction

Remember that electric tax credit (called the “Inflation Reduction Act) that we

Remember that electric tax credit (called the "Inflation Reduction Act) that we got back in 2022? Well, it's been a year and a half since those incentives, and FINALLY we’ve got a pair of senators fighting to expand the Inflation Reduction Act to include motorcycles – and they’re calling it "the Electric Motorcycle Parity Act."

Currently, the Inflation Reduction Act of 2022 has incentives of "up to $7,500 to customers if both the vehicle and the taxpayer meet certain requirements," along with an Adjusted Gross Income (AGI) requirement, where qualifications show that eligible taxpayers’ AGI may not exceed:

Eligible machines that are currently eligible will need the following:

The incentive stems from what your machine has in the way of "critical mineral and battery component requirements." Should you pass on both fronts, the $7500 is yours, otherwise one or the other will get $3750.

Odds are that the incentive will drop in price for electric motorcycles, but here's hoping, right?