Senate Passes Parking – Mass Transit Parity
3/27/2012 8:49 AM
On Wednesday, March 14th the Senate passed a bill (S. 1813) that authorizes Federal-aid highway and highway safety construction programs, and for other purposes, including a provision that restores parity for exclusion from income for employer-provided mass transit and parking benefits.
Last year, Congress failed to extend parity between the two benefits and the mass transit benefit reverted from $230 to $125. This bill increases the monthly amount that individuals may elect pre-tax for mass transit from $125 to $240, to match the parking benefit that began in 2012.
Currently, the bill awaits consideration in the House of Representatives.