Supporting Transit Commutes Act

9/12/2024, 6:53 AM

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. 

Congress
118

Number
HR - 9464

Introduced on
2024-09-06

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

9/6/2024

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and 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. 

Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to allow employers to deduct certain transportation fringe benefits.

Comments

Recent Activity

Latest Summary10/24/2024

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 em...


Latest Action9/6/2024
Referred to the House Committee on Ways and Means.