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- Don't put away that shovel just yet...
- Olympic Hopes Dashed
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- Take Nothing for Granted
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The Buzz
Schumer Promises to Push for Commuter Tax Break Renewal
U.S. Senator Charles Schumer was in White Plains today promising to push for the renewal of the Federal Mass Transit Tax Break which is due to expire at the end of the year.
Currently the commuter benefit covers up to $230 per month from a person's gross income to pay for their mass transit commutes, an increase from the $120 benefit that was in place until 2009. Employees whose monthly mass transit fees are less than $230 can deduct the full amount from their paychecks, tax free.
Said Schumer, "This is particularly important in Westchester because we have so many commuters --one of the highest percentages of commuters in the country."
Schumer added, "Even if you never take Metro North and never commute by mass transit, you still benefit from this break because it means the thousands of people who drive cars will use mass transit and free up the roads a little bit."
The Senator estimates since it's inception,the measure saved 680,000 New Yorkers millions of dollars.
Schumer says he's hoping to start work on renewing the legislation when lawmakers return to Washington in September. And, he says, he's confident he will get strong bi-partisan for the measure.
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