Mass transit tax break set to expire
A mass transit tax break that saves over hundreds of thousands of New Yorkers $1,000-a-year each in commuting costs is set to expire at the end of the year.
Sen. Chuck Schumer, standing beneath the famous timepiece in Grand Central Terminal Monday, called on Congress to extend the benefit before Jan. 1, vowing to withhold his support for a host of additional tax extenders if the program for mass transit failed to pass.
“New York commuters need every break they can get,” Mr. Schumer said.
The current benefit allows commuters to spend up to $245 per month of their pre-tax earnings on mass transit and commuter costs like parking. Over the last year, approximately 700,000 New York residents saved over $330 million through this benefit. More than 2.7 million commuters use the tax break nationwide.
https://www.crainsnewyork.com/article/20131111/BLOGS04/131119986
Schumer is the absolute master of the microphone. If this benefit gets to continue, and it probably is going to no matter what, he gets to look like a hero. If it ends, then he can look like the good guy who tried his best against those do-nothing Congressmen.