WASHINGTON--(BUSINESS WIRE) (Monday, June 10, 2013)
On behalf of millions of American public transit commuters, the Commuter Benefits Work for Us Coalition applauds the introduction of the Commuter Parity Act of 2013 in both the United States Senate and House of Representatives to permanently place the monthly pre-tax limit for the transit commuter benefit on par with the benefit for parking. This legislation, if passed, will avoid a severe drop in the transit benefit scheduled for the end of this calendar year, and once and for all end the tumultuous cycle of fluctuating caps for the transit benefit.
The coalition expresses its gratitude to Senator Charles Schumer (D-NY) for his introduction of the Commuter Parity Act of 2013 in the United States Senate, and to Representatives Michael Grimm (R-NY), Peter King (R-NY), Earl Blumenauer (D-OR) and James McGovern (D-MA) for introducing the legislation in the House of Representatives.
Paul Dean, Vice President of TransitCenter, Inc. stated, “Our coalition is extremely excited that these Senators and House Members from both sides of the aisle have introduced this legislation that recognizes that commuters who choose public transportation should continue to be on equal footing in the tax code with those who drive to work.” He added, “The transit commuter benefit encourages more individuals to turn to public transportation and van pools for their daily commute, which helps reduce congestion, preserve the environment and reduce our nation’s reliance on foreign fuels. In addition, it allows millions of transit commuters to realize significant cost savings on their daily commute. The benefit also saves money for businesses of all sizes that offer it to their employees.”
The current monthly pre-tax limit for the federal transit and parking commuter benefits is $245 per month. However, without Congressional action by the end of this year, the transit benefit will drop to $125 per month, while the parking benefit will remain at $245. The coalition looks forward to working with the Senate and House sponsors of the Commuter Parity Act of 2013 this year to pass this critical legislation.
ABOUT THE COALITION:
The Commuter Benefits Work for Us coalition consists of non-profit advocacy organizations, public agencies and businesses dedicated to promoting the transit commuter benefit as an effective federal tool to help encourage increased use of public transportation and van pools. Key members include Edenred, Inc., the Employers Council on Flexible Compensation, TransitCenter, Inc. and WageWorks.
WageWorks (NYSE: WAGE) is a leader in administering Consumer-Directed Benefits (CDBs), which empower employees to save money on taxes while also providing corporate tax advantages for employers. WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits. WageWorks makes it easier to understand and take advantage of Consumer-Directed Benefits for 58,000 employers and approximately 4.5 million people. WageWorks is headquartered in San Mateo, California, with offices in major locations throughout the United States. For more information, visit www.wageworks.com.