Looks like those of us who use Mass Transit got something from the Tax Compromise

[stevenleser]

I'm one of those folks who takes the subway to work everyday. Where I work you have the option to have your subway pass purchased through ADP and taken out of your salary pretax. I received the following email:

Dear Participant:

On October 28th, 2010, you received an email advising you that the monthly pre-tax limit for transit in our system was changed from $230 to $120. This was because we had not yet heard from Congress on an extension of the Stimulus package known as ARRA. ARRA had temporarily increased the monthly pre-tax payroll deduction cap for your transit benefit to $230.00/month, but was set to expire December 31, 2010.

On December 17, 2010, the President signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. As part of this legislation, the increased monthly pre-tax reimbursement limit of $230 for Commuter Benefit Transit accounts enacted under ARRA has been extended through December 31, 2011.

This change will be implemented on your commuter benefit account effective December 21, 2010. Transit passes that have already been processed for 2011 benefit months will continue to be processed at the $120 pre-tax limit. Your order for the upcoming benefit month will be processed at the new $230 pre-tax limit.

There is no action for you to take, but you can expect your payroll deductions to be calculated at the new $230 pre-tax limit.
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This is a definite help for anyone making a middle class salary as I am happily willing to attest.

[T Wolf]

1. The fact that they would try to revoke this benefit for mass transit commuters is

indicative of the warped values in this country.

We can be thankful for this one-year extension. But I seriously doubt if the puke Congress will extend it again.

[vaberella]

2. I doubt it as well. n/t

[DBoon]

5. in red state america, moms drive mini-vans

mass transit is for america-hating secular homosexual illegal immigrants

[chieftain]

6. That must be why I enjoy my train rides to & from work so much.

[vaberella]

3. Thanks Steven for informing us.

It's these little things that middle class people depend on, that remain quiet.

[eleny]

4. I'm glad this was preserved

K&R

[niceypoo]

7. At what point does sacrifice kick in?

There will be no recovery without sacrifice.

[Clio the Leo]

8. Papa Joe looking out for you!