Permanent Commuter Benefit Parity signed into law

transit parityThanks to congressional action and a speedy bill signing, Permanent Commuter Benefit Parity has become a reality. The law equalizes transit and driving commuters in terms of how much in pre-tax dollars they can withhold for their commute.
The law allows permanent parity of the pre-tax payroll deductions for transit and vanpool fares with the pre-tax parking benefit deduction. If employers were withholding additional funds for transit/vanpool commuters above the previously approved $130/month, the pre-tax benefit is retroactive for 2015 at $250 per month and the pre-tax deduction increases for transit and vanpool fares to $255/month in 2016.

More on this law from our friends at ACT National…