December 31, 2013

Commuter tax benefit set to be cut nearly in half

WASHINGTON, D.C. — The Washington Post reported that 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. Meanwhile, those who commute by car will receive an increase in their monthly parking benefit in 2014, from $245 to $250.

WageWorks, a company that helps businesses administer benefits, told the paper that between 40,000 and 50,000 people in the Washington, D.C. area take advantage of the tax benefit.

The benefit is attached to a larger bill filled with many other tax benefits that have already expired or are set to be phased out at the end of the year, and it could be months before transit riders see their benefits restored to the current level, advocates told The Post. For the full story, click here.

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