EZGO - E-Z-GO shares jump after US tax credit for e-bicycles proposed

Chinese Electronic bicycle and moped manufacturer EZGO Technologies ([[EZGO]] +14.7%) saw its share price jump today after a bill was proposed in the U.S. offering an electronic bicycle tax credit.Late last week, the Electronic Bicycle Kickstart for the Environment (E-BIKE) bill was introduced in the Senate proposing a 30% refundable tax credit on the purchase of electric bicycles with a max speed of less than 28 mph that are sold in the U.S. for under $8,000.The bill is a companion bill to one introduced to the House of Representatives earlier this year in February.The House bill has multiple Democratic cosponsors, but so far no Republicans have shown major support for the proposal.EZGO is down 80% since its IPO in late January and recently carried out a direct offering.

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E-Z-GO shares jump after US tax credit for e-bicycles proposed