The fiscal cliff deal extends pre-tax benefits for transit commuters on par with parking benefits. This means $550 and up a year in tax savings per commuter, retroactive to 2012, reported Forbes.
An estimated 2.7 million families will benefit from the tax break. The provision, which allows commuters to put away $240 in pre-tax salary for to use for transit, was first effective in 2009 but expired at the end of 2011. To read the full story, click here.











