One largely neglected provision of the massive spending bill passed by Congress is going to help employers lower travel costs for employees who use public transit to commute to work.
Under the new law, employers will be able to spend up $255 a month tax-free on either transit passes or parking for employees.
Throughout 2015, there was a great disparity between the tax exclusion for parking benefits and public transit assistance. The tax exclusion for parking was capped at $250 a month, compared to only $130 a month for public transportation spending.
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