Senate Passes Parking – Mass Transit Parity

Mar 27

Written by:
3/27/2012 8:49 AM  RssIcon

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.  

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