The core of the Bicycle Commuter Act has been absorbed into a U.S. House energy bill that's expected to reach the House floor later this month. A larger part of that bill is to promote production of ethanol and bio-diesel, which seem to be the only energy initiative with any support from the current White House. I have my reservations about both forms of fuel, but there may be some point to the linkage, engineered by Rep. Earl Blumenauer of Oregon.
The amalgamated bill is H.R. 2776, the Renewable Energy and Energy Conservation Tax Act of 2007. Here's the markup summary. And for a little background, click here.