The transit commuter benefit is an employer provided federal tax benefit that allows working families to save money on their daily commute, saves businesses of all sizes critical dollars that can be reinvested to create new jobs, helps reduce traffic congestion and improve air quality, saves energy and enhances our national security.
The monthly limit of the transit portion of the commuter benefit was increased by Congress at the beginning of this year to $245 per month to ensure that commuters who choose transit receive the same benefit as those who drive and park at their place of employment. However, this increase is only temporary. If Congress fails to enact legislation to create permanent parity or extend the higher level by December 31, 2013, the transit benefit will once again be reduced to nearly half the level of the parking benefit. Over the course of the next few months, Congress will be considering tax legislation and other bills that could include this important legislation.
We need your support now to urge Congress to take immediate action to pass legislation to establish permanent parity between the transit and parking portions of the commuter benefit.