Inside a proposed Senate transportation bill is a provision that, if approved by Congress, would reverse cuts to the monthly pre-tax transit benefits available to workers who use public transportation and vanpools.
Max Baucus, D-Mont., chairman of the Senate Committee on Finance, signed off Tuesday on revisions to the Highway Investment, Job Creation and Economic Growth Act of 2012. The bill now includes Sen. Charles Schumer's amendment that would bring to parity the monthly amount that can be set aside tax-free for public transportation expenses and parking costs.
The law would set both amounts at a maximum of $240 per month each for 2012, and it's estimated it could save commuters annual costs of up to an additional $550.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
