Thanks to the escalating price of fuel, more people than ever before are using mass transit, and Assemblyman Michael Montesano (R, I, C – Glen Head) is co-sponsoring legislation to provide a pretax deduction benefit on commuters’ New York State taxes. The U.S. Congress failed to act at the end of 2011 and, as a result, transit commuters were hit with a tax hike. Assemblyman Montesano’s legislation would offset the costs of parking and mass transit, while promoting cost-effective options such as carpooling.
“Between an uncertain economy and endless Washington gridlock, New Yorkers can use every bit of tax relief possible,” said Montesano. “By establishing a permanent pretax deduction for commuters, we can help our residents combat the escalating costs of fuel, parking and mass transit. As an added bonus, my legislation should help reduce congestion and protect the environment by encouraging the use of mass transit and ride-sharing programs.”
If passed, the pretax deduction benefit for commuters would be made permanent and indexed to inflation. It passed the state Senate on February 13, 2012, and comes with a memo of support from the New York State Transportation Equity Alliance.