US: Mass-Transit Tax Break in Obama-Signed 'Fiscal Cliff' Bill

[marmar]

A long-awaited tax break for transit users that will take some of the sting out of the MTA's upcoming fare hikes was included in the congressional "fiscal cliff" resolution, which was approved this week and signed by President Barack Obama Wednesday.

The Commuter Mass Transit benefit allows public transportation users to pay for the cost of their commutes with as much as $240 of pretax dollars each month through programs like TransitChek or WageWorks.

The current commuter tax break is limited to $125 per month -- the amount that's been in place since the original benefit expired in January 2011 -- while drivers have been able to write off $240 a month for parking fees.

Giving commuters an incentive to drive instead of taking public transportation "was completely backwards," said Steven Hagashide, senior planner for the nonprofit Tri-State Transportation Campaign. ............(more)

The complete piece is at: http://www.masstransitmag.com/news/10847961/us-mass-transit-tax-break-in-obama-signed-fiscal-cliff-bill

[rbixby]

1. Nice!

I'm trying and trying to get my employer to get on the pretax transit thing, its like getting a 30% discount, totally worth it.