Sen. Schumer proposes commuter tax break
A tax break could be on the way for area Metro-North riders. Sen. Chuck Schumer (D-N.Y.) wants to give bus, subway and commuter rail riders the ability to deduct up to $250 a month from their taxable
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Nov 12, 2014, 3:28 AM
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Updated 3,587 days ago
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A tax break could be on the way for area Metro-North riders.
Sen. Chuck Schumer (D-N.Y.) wants to give bus, subway and commuter rail riders the ability to deduct up to $250 a month from their taxable income.
Currently, the benefit is $130 a month. Before this year, it had been as high as $245, according to Schumer, matching the amount drivers are permitted to deduct from income for parking expenses.
"A lot of people are really so desperately eager to get these benefits renewed," says Schumer.
If it passes before Dec. 31, the benefit would be retroactive for 2014. Schumer plans to introduce a separate bill next year that would make it permanent.
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