The parking benefit increased this year to $250, thanks to a cost-of-living adjustment implemented by the Internal Revenue Service, while the public-transportation benefit declined to $130.
Commuter tax benefit set to be cut nearly in half
Starting Jan. 1, the monthly amount that commuters can set aside before taxes to spend on public transportation is to drop from $245 to $130. It could be months before transit riders see their benefits restored to the current level, according to advocates.