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Tag: Senate Finance Committee votes to increase pre-tax benefits for public transportation commuters

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Senate Finance Committee votes to increase pre-tax benefits for public transportation commuters
The U.S. Senate Committee on Finance on Feb. 7 approved legislation that would reverse cuts to the monthly pre-tax transit benefits available to commuters who use public transportation and vanpools. If approved by Congress, the bill will restore the monthly amount that can be set aside for public transportation expenses to $240 a month, rather than $125, saving commuters annual costs of up to an additional $550 this year, according to Save Flexible Spending Plans, a national grassroots advocacy campaign whose mission is to protect the accessibility and use of flexible spending accounts (FSAs) and other pre-tax benefits. The new provision in the Highway Investment, Job Creation and Economic Growth Act of 2012 comes after a modification to the bill by Chairman of the Senate Finance Committee, Max Baucus (D-Mont,), following an amendment offered by Sen. Charles Schumer (D-N.Y.).
February 8, 2012
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