Parking and Mass Transit Employee Benefits: NTEU's Kelley Wants Parity
by AccountingWEB on
By AccountingWEB Staff
On January 31, 2012, the leader of the National Treasury Employees Union (NTEU) called on Congress to approve legislation that would permanently establish parity between the parking and mass transit portions of the employee transportation benefit.
At the same time, NTEU president Colleen M. Kelley urged the Senate Finance Committee to include a provision to reinstate such parity in any package of tax extenders.
The S. 1034 – Commuter Benefits Equity Act of 2011, introduced by Senator Charles Schumer, would permanently establish parity between the parking and mass transit portions of the commuter benefit.
Kelley said NTEU "stands ready to do all it can to ensure this critical benefit for workers and employers is extended in the near future."
In testimony submitted to the Finance Committee, the NTEU leader said "It makes no sense for the government to provide workers using environmentally helpful mass transit a lesser benefit than those driving and parking their personal vehicles."
Parity between the two elements of the transportation benefit ended December 31, 2011, when Congress failed to extend the mass transit portion, which had previously been increased to $230 per month. Instead, it reverted to a maximum of $125 per month; the parking benefit, meanwhile, increased at the start of this year to $240 per month from $230.
In her testimony, Kelley emphasized that a higher monthly mass transit benefit would "encourage greater transit ridership – which helps lessen congestion on roadways, reduce pollution, and conserve energy."
Moreover, she said, the mass transit benefit provides tax relief for employers who offer it, since it is paid with pretax dollars. That frees up funds for employers to invest in their enterprises. She noted that in 2010, employers are estimated to have saved more than $300 million by offering this important benefit to their employees.
You may like these other stories...
There is increased optimism about the US economy among business executives, as more are anticipating modest growth in recruitment, staff training, and targeted capital spending in the next year, according to results of a new...
To read more articles by Jeff Davidson, click here.One of my teeth is moving behind another, and it may cost me $6,500 to fix. I’m also facing obstacles professionally and personally. Even if I resolve the six to eight...
Read more articles by Alexandra DeFelice here.Time is money. So if every day we can pick up six minutes of productivity, over the year we'll gain 24 more hours. That's three, eight-hour workdays--or days to do...
Upcoming CPE Webinars
BAR is an acronym for: Boundaries, Authority and Role. This simple tool will provide participants with a solid understanding of leadership essentials to improve their performance.
This material is designed to provide a start-to-finish overview of how to plan and complete high-quality small audits efficiently.
Key Accounting and Reporting Issues for Nonprofits No. 1: Overview and Statement of Financial Position
This material focuses on non-profit organizations organization, accounting and reporting.
This material focuses on the principles of accounting for non-profit organizations' revenues.