As part of the $700B bailout bill congress included a little something for bike commuters.
The benefit -- up to $20 per month -- begins with the new year in 2009. Employers may reimburse employees, tax free, for "reasonable" expenses related to their bike commute, including equipment purchases, bike purchases, repairs, and storage if the bicycle is used as a "substantial part" of the commuter's trip to work for the month.
Read full text of Senate bailout bill - CNNMoney.com
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