Supporting Transit Commutes Act
118-HR-9464118th CongressIntroduced Sep 6, 2024Taxation
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Referred to the House Committee on Ways and Means.
Sponsor
Rep. Auchincloss, Jake [D-MA-4](D-MA-4)4 cosponsors
Summary
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.
Subjects
CommutingEmployee benefits and pensionsIncome tax deductionsTransportation costs
Actions (3)
Referred to the House Committee on Ways and Means.
Sep 6, 2024House floor actions
Introduced in House
Sep 6, 2024Library of Congress
Introduced in House
Sep 6, 2024Library of Congress