New Tax Break for Metro-North Commuters
Senator Chuck Schumer is reminding Metro-North commuters to take advantage of a new tax benefit that could save commuters potentially over a thousand dollars each year.
Last month, Congress approved legislation that gives public transportation users a tax break of up to 255-dollars a month for 2016. That's the same tax deduction that drivers receive for parking expenses. Before, Metro-North customers could only deduct 130-dollars a month.
“Mass transit is the lifeblood of Hudson Valley and the greater New York City area. This is a huge victory,” Schumer said at the White Plains Train Station. “As the price of commuting continues to climb, this commuter tax break has become increasingly vital.”
Schumer said, the tax deduction is available to commuters who receive fringe benefits from their employer for riding the bus, taking the subway or using another form of public transportation to commute to work. The Senator claims, not all commuters know about this cost-cutting benefit available to them or exactly how to claim it for themselves yet.
Riders should talk with their employers to see if they are eligible for the benefit. More information can be found here.