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Thanks to Dirt Rag for this info.

The Bicycle Commuter Act would extend the transportation fringe benefit, currently available to transit users and car drivers, to bicycle commuters. The act would provide a tax benefit to employers who offer cash reimbursements to their employee who commute by bicycle. The Bicycle Commuter Act would simply extend the definition of “transportation” in Section 132 (f) of the 1986 IRS code to include “bicycles.”

The Bicycle Commuter Act (H.R.807, S.2635) is before congress right now. The League of American Bicyclists website has more information and a convenient online form for contacting your Representatives and Senators to tell them to support H.R. 807 and S. 2635. It’s as easy as entering your zip code and clicking the “go” button—the system generates emails to your Congress-people, which you simply sign and send.