Supporting Transit Commutes Act This bill allows employers a tax deduction for certain transportation fringe benefits (e.g., commuter and parking costs, bicycle reimbursements) paid to their employees. It also gives employers a 50% tax deduction for the amount of benefits withheld from their employees' wages.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
CommutingEmployee benefits and pensionsIncome tax deductionsTransportation costs
Supporting Transit Commutes Act
USA118th CongressHR-9464| House
| Updated: 9/6/2024
Supporting Transit Commutes Act This bill allows employers a tax deduction for certain transportation fringe benefits (e.g., commuter and parking costs, bicycle reimbursements) paid to their employees. It also gives employers a 50% tax deduction for the amount of benefits withheld from their employees' wages.