Motorcyclists To Benefit From Stimulus Package
The following is from the AMA…Language that provides a tax credit for the purchase of a motorcycle has been added to the current economic stimulus bill, the American Motorcyclist Association (AMA) reports. The AMA, working in conjunction with other stakeholders, worked diligently to secure the motorcycle provision within the measure. President Obama is expected to sign the bill into law shortly.”This inclusive and equitable solution will provide much-needed relief to riders, as well as to those who sell motorcycles,” said AMA Vice President for Government Relations Ed Moreland. “When it appeared that motorcycles were going to be overlooked in this bill, the AMA and the Association’s members, along with Harley-Davidson and others, took our case straight to Capitol Hill and persuaded lawmakers that this was the right decision.”Moreland added that motorcycle riders are just as likely to have been hit hard by the economic downturn as those who buy automobiles and light-duty trucks. Moreover, motorcyclists typically purchase new bikes, apparel, vehicle servicing and aftermarket equipment from local dealers that are family-owned small businesses.Specifically, motorcycles are included as “qualified vehicles” in Section 1008 of the legislation. Those purchasing a new motorcycle will be able to deduct the sales and excise taxes on their 2009 tax returns. Prior to the actions taken by the AMA and others, the deductions only applied to the purchase of a new car or light truck.
“We want to thank all motorcyclists who took the time to contact their elected officials,” said Moreland. “This victory is particularly gratifying because it represents a community-wide effort to elevate motorcycles as a recognized and viable means of transportation in America. Motorcycles are vital to the reduction of traffic congestion, provide efficient use of limited parking, have far less impact on our roads and bridges, and contribute significantly to our nation’s efforts to consume less fuel. Our success today clearly indicates that our legislators are listening.”