MARC Commuters Could Benefit from 'Fiscal Cliff' Deal
A provision of the deal to avert the fiscal cliff restores a public transit subsidy to as much as $240 monthly.
Amidst the fine print of the deal to avert the “fiscal cliff” is a provision that could save MARC commuters a chunk of change. The Washington Post reports that Congress has tweaked a portion of the tax code in order to give people an incentive to take mass transit. Employers can now cover up to $240 per month in commuting benefits tax-free, or offer a pre-tax payroll benefit. This benefit was in place as part of the stimulus bill until the end of 2011, when it was allowed to lapse and dropped back down to $125 monthly. The “fiscal cliff” deal restores the benefit to that higher level. The Post suggests that this change could encourage higher usage of public transit, because a tax-free benefit to those who drove and parked had remained at…
