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Thursday, January 03, 2013

Transit benefit restored in fiscal deal

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Among the changes (and status quo) perpetuated by Congress in its Jan. 2 budgetary decision making, public transit users were offered a plus: the rise in pretax federal transit benefits to $240 per month, up from $125 in 2012.

The benefit had been as high as $230 per month in 2011, before a provision in the law expired and it was reduced. The move offers public transit riders a rough parity with those using automobiles for work purposes, which has been set as high as $240 per month since 2012 began.

The new level is set to expire at year's end unless extended by future congressional action.