Before January 1, 2012, America’s transit riders were eligible for the same $230 per month tax benefit as drivers. But because Congress failed to act, the transit commuter tax benefit plunged to $125 per month, while the tax break for parking rose to $240.
For a lot of New Yorkers, that tax break was essential. Many Metro-North and Long Island Rail Road riders spend more than $125 per month on commuting costs, and in New York City, express bus commuters typically spend at least $200 per month. And it’s not just a downstate thing—workers across the state use this benefit to ease their commuting costs.
But it’s not all financial. An incentive to take transit (and leave the car at home) helps to:
- Reduce congestion on New York’s roads;
- Make our communities cleaner, less polluted places; and
- Create a culture of sustainability.
While Washington has yet to make the transit commuter tax benefit equal to the parking benefit, a bill that would restore the benefit for New York’s income taxes has passed the New York State Senate—but it’s currently stuck in the Assembly.
You can help.