Sen. Schumer to work to make transit tax break permanent
Senator Charles Schumer (D-NY) listens to Supreme Court nominee Elena Kagan on the second day of her Senate confirmation hearings in front of the Senate Judiciary Committee on Capitol Hill in Washington, June 29, 2010.
Credit: Reuters/Jonathan Ernst
NEW YORK |
NEW YORK (Reuters) - Senator Charles Schumer said he will push to make the federal mass transit tax break a permanent part of the tax code.
The federal mass transit tax break, which currently saves mass transit riders over $1,000 a year, is set to expire at the end of the year.
"Now more than ever, with increasing fares and reduced services, we need to maintain incentives for middle-class New Yorkers to use mass transit when commuting to and from work so they don't have to break the bank," Schumer said.
In 2009, the mass transit benefit was almost doubled to $230 a month, creating over $1,000 in savings for commuters.
Schumer, a Democrat from New York, is pushing to make the $230 transit benefit permanent; otherwise, it's due to expire on December 21.
"The mass transit benefit is a win for commuters because it can slash the cost of getting to work, it's a win for businesses who enjoy a significant tax break to cover the cost of the benefit, and it's even a win for the MTA because it helps boost ridership," Schumer said.
"We cannot afford to let this expire," he said.
In the New York metro area alone, commuters typically save well over $150 million a year because of the transit benefit, according to a statement from Schumer's office.
Employers have saved over $35 million since the benefit went into effect in the New York area, the statement said.
(Reporting by Dhanya Skariachan; Editing by Jan Paschal)
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Employers have saved over $35 million since the benefit went into effect in the New York area, the statement said.”…
…So now, who is going to pay for this? Oh yeah, all those rich people with their new taxes right?
We’re the ones trying to get jobs. Why should people WITH jobs already get more than we do that are looking for work?
This is BS and so is Schmucky Schumer. He has done nothing for his constituents except show them how arrogant he is. It’s getting close to elections and he is trying to get people to think he cares about them when he doesn’t.
He voted for every one of Obama’s country destroying bills against the will of more than 2/3rds of his constituents in New York State.
He’s an arrogant, do-nothing bum. We need someone who votes with the people, not to further his career in the Democratic Party.
Get rid of this faker people and Gillibrand as well. She is another one who won’t listen to the people. She voted to keep funding Acorn with government (YOUR TAXES) after they were shown on videos breaking the law and helping a couple avoid paying taxes. They’re out of business now but she voted against you people.
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