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

National Express shuttles Baltimore commuters during subway work

Staffed 24/7 with more than 100 drivers and 58 buses, free National Express shuttles will be running every 10 minutes during peak service and 20 to 30 minutes at lower-volume commuting times.

Fla.'s JTA recieves $7.2M for BRT project

Will be used to improve sidewalks and ADA ramps within a half mile of the First Coast Flyer™ North Corridor stations and construct pedestrian access to the Armsdale Park-n-Ride facility.

2 NJ Transit buses collide in Lincoln Tunnel

Of the 20 people injured, none were considered serious and 13 were transported by New York City EMS to hospitals.

AC Transit launches on-demand bus service

Riders using a desktop computer, smart phone device or traditional telephone can schedule their pick-up and desired drop-off locations: reducing their wait time, arriving at their destination faster, and increasing the overall rider experience.

MVTA 'Bus on Shoulder' vehicles equipped with MTS guidance tech

The advanced Driver Assist System, utilizing a licensed GPS technology developed by the University of Minnesota, provides feedback to the driver regarding lane position – via graphic driver alert displays, virtual mirror, vibrating seat and actuated steering.

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 number 1 resource for vocational 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