Congress to pay you to ride!
Well with more bailouts and pork than Bob Evans & Jimmy Dean combined flowing from Congress, why should we cyclists not at least get a pork chop. Congress thinks we are all fat slobs and need a tax incentive to get more fit. The bill in Congress(which has yet to be passed) is called PHIT,
Personal Health Investment Today Act of 2007'. The long and short of it is up to $1000 can be spent pre tax on what looks like just about anything related to getting or staying in shape. So under the new administration if this goes your tax savings on a $1000 bike will be about $500! Here is the language of the bill: HR 245
The bill also goes by the health club bail out act.