|Commuter Benefit Returns to Parking Parity|
This week, Congress passed legislation to make the public transit commuter benefit equal to the federal tax benefit for parking. The change would increase the transit benefit from $125 per month to $240, where the IRS has set the current parking benefit. This was a part of the “fiscal cliff” legislation. The cliff was a combination of sizable tax increases from the Congressional budget sequestration legislation set to automatically take effect at the beginning of 2013.
The measure also extends through 2013, retroactive to Dec. 31, 2011, provisions in the tax code providing a tax credit for a portion of costs associated with alternative fuel use by public transit systems.
In response to the commuter benefit legislation, APTA President & CEO Michael Melaniphy said in a statement: “For 2013, there is no longer a financial bias in the federal tax code against public transit use. This has always been an issue of fairness, and public transit advocates are pleased that the federal tax code will again provide transit riders with the same tax benefits accorded to those who drive to work.”
This page is updated periodically, and provides links to/ or articles and news of interest regarding the state and national transit scene. If you have a link you think we should add, send an e-mail to firstname.lastname@example.org
The views expressed in these articles do not always represent the views of the Kansas Public Transit Association. KPTA posts any article/link that is of interest or deemed worth reading, even if the opinion or view expressed is not one KPTA agrees with.