Parking and Mass Transit Employee Benefits: NTEU's Kelley Wants Parity

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...

Many firms these days claim the bulk of their new business comes from referrals, essentially saying their existing clients do all the business development for them. But this won't work unless you can build true client...
No field likes its buzzwords more than technology, and one of today's leading terms is "the cloud." But it's not just a matter of knowing what's fashionable. Accounting professionals who know how to use...
With tomorrow being Tax Day, you might see some procrastinators at your office filling out forms, printing out paperwork, or getting last-minute tax advice from their accountant so they can meet the IRS’s filing...

Upcoming CPE Webinars

Apr 17
In this exciting presentation Excel expert David H. Ringstrom, CPA shares tricks that you can use with pivot tables every day. Remember, either you work Excel, or it works you!
Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.