U.S. Rep. Earl Blumenauer is cosponsoring a bill to officially recognize bike sharing as the newest category of public transit, at least in the eyes of the IRS.
Unfortunately, the bill is limited by a persistent oversight in tax policy that restricts its benefits to those who both live and work in areas that have bikesharing stations.
It’s a new goal for the city transportation commissioner turned Congressman, who spent years pushing for the IRS’s first bike commuting benefit. The $20-a-month deduction finally passed as part of the 2008 bank bailout (despite Blumenauer’s “no” vote on that package).