Published on February 3rd, 2013 | by Zachary Shahan1
Transit Tax Benefit Now Equal With Parking Benefit
February 3rd, 2013 by Zachary Shahan
I know — like me, you had no idea car commuters had more in the way of tax benefits than transit commuters. Sadly (and quite regressively), they did. But that was recently fixed by some savvy, transit-friendly senators.
The commuting costs that straphangers could claim as tax-deductible had been reduced to a maximum of $125 per month last year, well below the $240 that car commuters could claim monthly to offset parking costs.
With transit and parking benefits again equal, there will be one less pernicious financial incentive to drive to work alone, as David Alpert at Greater Greater Washington noted.
There are many reasons to take transit instead of drive. Good to see they’re now on level playing field in the tax credit category.
This is part of an experimental “Sunday quickies” series in which we quickly cover stories recent stories for which we didn’t have time during the previous week.
Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.
Own or lease an electric car? Complete out EV Owner/Lessee Survey.