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Old 11-13-08, 06:46 PM   #1
oilman_15106
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Congress to pay you to ride!

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

http://www.opencongress.org/bill/110-h245/text

The bill also goes by the health club bail out act.
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Old 11-13-08, 06:58 PM   #2
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how about a chicken in every pot

a bicycle under every Christmas tree (make mine Vanilla)
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Old 11-13-08, 07:07 PM   #3
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how about a chicken in every pot

a bicycle under every Christmas tree (make mine Vanilla)
By the time you took delivery of that Vanilla the tax credit/deduction will have expired. So might have you since you're in the 50+ forum.
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Old 11-13-08, 07:31 PM   #4
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I'd take a Vanilla under my tree in 2010 or 2011.
In fact, to do my part for the economy and in support small American business I may have to order another custom bike. Thinking DeSalvo or Davidson, even if I don't get a tax break, but in a belt tightening situation it may have to be steel instead of Ti.
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Old 11-13-08, 07:51 PM   #5
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HR 245 was referred to the House Committee on Ways and Means where it has remained for about twenty-two months and has no sponsorship beyond the back-benchers.
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Old 11-14-08, 05:49 AM   #6
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. . . referred to the House Committee on Ways and Means where it has remained for about twenty-two months and has no sponsorship beyond the back-benchers.
Let's review the reality of "health care" in our times. It's not about staying healthy; it's about keeping the "health care system" funded up*. As with all serious issues lads and lassies, we're ON our own and largely A-lone in the endeavor. There's a reason we seek each other's counsel here on BF50+, a rare island of mutual support without an outstretched palm.

Here's an opposing view; in the end do we want our personal fitness to be just one more fraud-ridden Public Hog Trough up to which we Americans line up? It might just be unique that we're part of a movement without the expectation of anything but the Pure Joy of Doing It. Jes' sayin'.

Oh dear, have I consigned this message to P&R?

Cycling content? Most House members don't ride.

* - Regarding its solvency, look soon for the "health care system" to follow the Housing, Banking and Big Three as the next pearl on the string of financial disasters looking for rescue in high places.
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Old 11-14-08, 06:06 AM   #7
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Well said Bones. Lp
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Old 11-14-08, 06:32 AM   #8
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That probably would have to be a government approved bicycle to receive the credit. Will it come with certifications as to it's "carbon" footprint, the nature and location of manufacture of all petroleum products involved, the political correctness of its country of origin and full disclosure of the voting, eating and more personal habits of the intended owner?

If not you might find yourself in violation of several proposed and soon to be proposed acts of legislation no doubt designed to protect you from yourself and others.

On the other hand, if it is your intent to ride this bike to "nowhere" in particular then there is a list of senators and congressmen looking to find a way to fund it for you.

This message brought to you as an unpaid advertisement for the congressional newsletter......"Bacon Bits"
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Old 11-14-08, 07:57 AM   #9
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Its about time I got a bike as good as everyone else has!!! Share the wealth (your wealth), right?
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Old 11-14-08, 10:07 AM   #10
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I will get my Cervelo re-branded to "Obama"
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Old 11-14-08, 10:31 AM   #11
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Here's an opposing view; in the end do we want our personal fitness to be just one more fraud-ridden Public Hog Trough up to which we Americans line up?
The answer for most Americans (who believe in free market capitalism with some regulation to minimize abuse) is NO - we don't want companies or industries at the Public Hog Trough (PHT). But since the the PHT is so big, let fitness infrastructure get its share; with trillions of dollars being served up - those who don't go for the free money can't compete except in niche markets. Did I hear $132B for AIG? Freddie and Fannie will never get enough. Give GM $50B and they will produce a better Cadillac Escalade hybrid. Or maybe even a hybrid Hummer? Sheesh.

Cycling content - with Lance making a comeback, it's likely that Trek will sell more bicycles and not require a federal bailout. If he could win the Giro or TdF or Vuelta at age 37 on a townie or hybrid he could revolutionize the cycling industry. A few more million, 40+, new Lance wannabes would be a good thing. So much for dreaming.
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Old 11-14-08, 08:54 PM   #12
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Old 11-16-08, 07:12 AM   #13
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Cycling content? Most House members don't ride.
W does.
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