Fiscal Cliff Deal Has Bright Spot For Some Commuters
By Katie Colaneri, WBGO News
January 3, 2013
The fiscal cliff deal signed by Congress this week has a bright spot for some commuters.
It’s called the “pretax commuter benefit:” an untaxed chunk of your paycheck that goes only toward your commute. That is, if your company offers such a plan.
Congress has nearly doubled the amount of the set-aside to $240 a month. The previous limit barely covered the cost of monthly train and bus passes.
Steven Higashide with the Tri-State Transportation campaign says the new benefit system just makes more sense.
“This represents significant pocketbook relief for hundreds of thousands of rail and bus riders in NJ. For example, if you make $50,000 a year, this will save you about $400.”
The benefit expires at the end of the year, pending yet another vote by Congress.