Bus

Transit incentive program introduced in Chicago's Cook County

Posted on December 8, 2011

The Transit Ridership Incentive Program (TRIP) will provide up to $1,700 to Chicago's Cook County businesses that enroll employees in a pre-tax transit benefit program. Commuters can save between 30% and 40% on their commuting costs by purchasing transit fares before taxes.

The incentive program has $250,000 made available through the American Recovery and Reinvestment Act (ARRA), and the limited funds will be disbursed to employers on a first come, first served basis.

"With the rising cost of gas, public transportation is the most common-sense approach today. This latest initiative makes it easier and even more cost-effective to travel by bus or train," said Joe Costello, Regional Transportation Authority (RTA) executive director.

Employees typically earn their income, are taxed, and then purchase transit to get to work. Those enrolled in a pre-tax transit benefit program can purchase transit fare before being taxed, which lowers the amount of their taxable income. The transit program is not unlike making contributions to a 401(k) retirement plan. Depending on their transit costs and tax bracket, employees can lower their tax burden by hundreds of dollars per year.

In addition to saving people money, the program encourages people to commute via mass transit, which is typically cheaper and less polluting than driving. Transit riders can save significantly by using public transit instead of driving. Fares for the CTA, Metra, Pace, Amtrak and the Northern Indiana Commuter Transportation District are eligible for pre-tax purchase.

Funding for TRIP is made possible by ARRA through its Energy Efficiency and Community Block Grant program. The Cook County Department of Environmental Control is administering the program in coordination with the Center for Neighborhood Technology and the RTA.

 

View comments or post a comment on this story. (0 Comments)

More News

TransPro’s Mark Aesch to Deliver Keynote Address at BusCon 2015

The session, sponsored by Q’Straint, will surely inspire participants as Aesch will bring to life stories from lessons learned during his many years as a transit management leader and innovator.

Port Authority to realign gates at NYC bus terminal

The changes are aimed at improving bus operations and reducing congestion in the terminal that can stretch back out into the inbound Lincoln Tunnel and beyond.

Mich. BRT plan on track, set for possible 2018 launch

The 8.3-mile route, with a proposed 27 stops, would replace the Capital Area Transportation Authority’s current Route 1 from downtown Lansing to the Meridian Mall. Results from the plan’s environmental assessment study are expected to be shared at a public hearing this fall.

Kiel Seats part of largest refurbished electric fleet in North America

Left on purpose without upholstery option, each double seat weighs only 45 lbs. yet provides an optimum of comfort for riders through its ergonomically formed design. The slim contour of the seat’s back offers a maximum of legroom for passengers and enhanced accessibility getting in and out of the seat.

NJ TRANSIT to add 772 MCI Commuter Coaches

The latest equipment purchase in a 33-year relationship, the $395 million order for clean diesel, cruiser-style coaches will offer NJ TRANSIT riders three-point seatbelts and comfortable forward-facing seating for 57 passengers.

 

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The resource for managers of class 1-7 truck Fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close