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.  




Recent Entries From Around Our Site

$83,000 for No COBRA Notice (8/25/14)
COBRA Administration Specialist- 1042
Affordability Percentage Adjusted for 2015 (8/8/14)
Appeals Courts Split on Subsidies (7/22/14)
Client Accounting Coordinator - 1039
IRS Provides Overview for PCOR Fee (7/9/14)


This Blog is made available by the authors and Employee Benefits Corporation for educational and general informational purposes only, not to provide legal advice. By using this Blog you understand that there is no attorney/client relationship between you and the Blog author.
Spotlight Newsletter