SENATOR FUSCHILLO INVITES RESIDENTS TO JOIN THE FIGHT TO RESTORE STATE MASS-TRANSIT TAX BENEFIT FOR COMMUTERS
Senator Charles J. Fuschillo, Jr. (R-Merrick) is inviting all residents to sign his online petition calling on Albany to pass legislation he sponsors to help commuters reduce their commuting costs by restoring the state’s mass transit tax benefit.
“Long Islanders already pay enough to commute into New York City; now they’re facing even higher costs because of Washington’s inaction. With Congress failing to act, New York State needs to pass this legislation to restore the monthly pre-tax benefit on the state level so that commuters can save on their state taxes. I invite residents to join me in calling on Albany to pass this legislation by signing my online petition,” said Senator Fuschillo, Chairman of the Senate’s Transportation Committee.
Last year, eligible commuters could set aside up to $230 a month of their pre-tax salary to cover mass-transit commuting expenses under federal law. However, Washington’s failure to renew the law by the December 31, 2011 deadline resulted in this benefit being cut nearly in half for 2012. New York State mirrors the current federal benefit for commuters on their state taxes, but since the state’s benefit is currently dependent on the federal benefit, commuters are paying more on both their federal and state income taxes because of Washington’s inaction.
Senator Fuschillo is sponsoring legislation to restore the state mass transit tax benefit to 2011 levels and adjust it annually for cost of living increases, regardless of whether Congress authorizes additional extensions. Passing this law would mean that commuters’ state mass transit tax benefit would rise to $240 a month for 2012. It would also create parity with the current federal and state pre-tax benefits which help offset parking costs for commuters who drive. That benefit increased to $240 on January 1st.
Residents can sign Senator Fuschillo’s online petition calling on Albany to pass this legislation and restore the state’s mass transit tax benefit by clicking here.