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Benefit plans allow riders to pay with pre-tax dollars
bikesuit_100.jpg
Posted 17 November 2008 in United States | Economy | News | Transportation
Published 12 November 2008 by Chicago Tribune (original article)

Under federal tax law, a commuter can shelter up to $115 a month, or $1,380 a year, in pre-tax dollars to help pay commuting expenses. But few employers provide programs that would allow their employees to take advantage of this. San Francisco recently became the nation's first to require businesses with more than 20 employees to offer transit benefit programs -- and Chicago may soon follow.

» 218 reads
Published 12 November 2008 by Chicago Tribune, http://www.chicagotribune.com/news/local/chi-transit-benefit-12-nov12,0,1287953.story

[The amount saved may not be close to what it takes to maintain a car, but could make a difference to folks who take lower-cost options. This is an EXCERPT: read the whole article here. -Ed.]

By Richard Wronski

By setting aside part of their pre-tax earnings, commuters can help cover transit or van-pooling costs. [But] fewer than 2,000 Chicago-area companies provide such benefits to workers, according to the Regional Transportation Authority.

If San Francisco is any kind of trendsetter, that could change.

Worried about air quality and traffic congestion, the city recently became the nation's first to require businesses with more than 20 employees to offer transit benefit programs.

Experts say Chicago could follow.

Photo credit: Marc van Woudenberg (of Amsterdamize)

» 218 reads
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