As a further sign of some skewed priorities, as we enter 2014, pre-tax mass transit benefits will drop from $245 per month to $130 while parking subsidies will increase to $250 a month. The change comes on the heels of Congressional inaction in Washington, D.C. Andrew Grossman of The Journal runs down why the subsidy is dropping precipitously, and needless to say, no one who relies on mass transit is too happy about this change.
Even if Congress reauthorizes the $245 tax break, it is unlikely that the benefits will apply retroactively as administering such a change would be quite complicated. So while subway riders who need only a monthly MetroCard escape with their full subsidy in tact, anyone who is, say, a monthly commuter from Zones 4 or on beyond on Metro-North won’t have even half the cost of their passes covered by pre-tax deductions.
But fear not; Chuck Schumer is on it. “Mass transit is the lifeblood of the New York area, and this provision helps keep it flowing and affordable. Passing it will be a top priority in the New Year,” the state’s senior senator said. Happy New Year, indeed.