WASHINGTON, Jan. 4, 2013 /PRNewswire-USNewswire/ -- On behalf of millions of American transit commuters, the Commuter Benefits Work for Us Coalition is pleased that legislation was signed into law by President Obama yesterday to increase the monthly pre-tax limit for the transit commuter benefit from $125 per month to $240 per month, the same level as the parking benefit, through the end of 2013.
Paul Dean, Vice President of TransitCenter, Inc. stated, "Our coalition is extremely grateful that Congress took this important action to place individuals who choose to use public transportation on equal footing with those who drive to work." He added, "This legislation will encourage more individuals to turn to public transportation and van pools for their daily commute, which will help reduce congestion, preserve the environment and reduce our nation's reliance on foreign fuels. In addition, it will allow tens of thousands of commuters to save several hundred dollars this year in commuting costs. The bill also saves money for businesses of all sizes that offer it to their employees."
The provision to restore parity was included as part of H.R. 8, the "American Taxpayer Relief Act of 2012" – enacted to avoid the so-called "fiscal cliff."
The coalition would like to thank Senator Charles Schumer (D-NY), Congressman James McGovern (D-MA), and a broad, bi-partisan group of legislators from both chambers for their tireless efforts to restore parity through the end of this year. We look forward to continuing to work with Congress in the coming year to enact legislation to make parity between the transit and parking commuter benefits a permanent part of the United States tax code.
ABOUT THE COALITION: The Commuter Benefits Work for Us Coalition consists of transit agencies, non-profit advocacy organizations and businesses dedicated to promoting the transit commuter benefit as an effective federal tool to help encourage increased use of public transportation and van pools. Key members include Edenred, Inc., the Employers Council on Flexible Compensation, TransitCenter, Inc. and WageWorks.
SOURCE Commuter Benefits Work for Us Coalition