Federal Transit Benefit Extended!

20 Dec

Last week, the House and Senate voted to support President Obama’s controversial plan to extend the Bush tax cuts, thus saving the transit benefit extension that was hidden inside the $858 billion package. The extension extends the transit commuter pre-tax benefit at its current level — $230 per month — through January 1, 2010. This allows transit riders equal tax benefits on par with existing parking credits.

New Jersey’s Senator Menendez, a supporter of the tax credit, told Streetsblog: “New Jersey rail and bus commuters were hit by the largest fare hike in history this year, which is a prime reason that I led the push to deliver this tax relief. Instead of making it more expensive to commute by train and bus, we should be encouraging transit ridership to cut family transportation costs, take cars off the road and clean the air we breathe.”

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