Tax Credits for mass transit set to expire

By : huffingtonpost – excpert

With a little help from Congress, commuters relying on mass transit to get to work could lose a significant chunk of change next year.
Starting on Jan. 1, the federal commuter tax benefit will drop from $245 to $130 per month. According to a Friday Washington Post report, that could cost some regular users almost $1,000 in 2014.
While mass transit riders are facing reduced benefits, the same can’t be said for drivers. The Post noted that commuter parking tax benefits will rise from $245 to $250 per month.
“This is the biggest disparity between the two components of the commuter benefit that we have ever seen,” Natasha Rankin, executive director of the Employers Council on Flexible Compensation, told the paper. “For those who rely on mass transit, where you also have increasing costs, this is a double hit.”… (more)

Transit credits expire while local fares increase, and Muni plans to request an additional $3 billion in November. Voters may vote for a shift in priorities instead.

RELATED:
New Year Brings Bay Area Transit Fare Increases   
Bay Area Commuter Check Benefits To Be Slashed In 2014

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