Bill 119 HR 409, also known as the Transportation Fringe Benefits Act, aims to amend the Internal Revenue Code of 1986 to allow employers to deduct certain transportation fringe benefits. This bill would provide tax incentives for employers who offer transportation benefits to their employees, such as parking, transit passes, and vanpooling.
The bill seeks to encourage employers to provide these benefits by allowing them to deduct the costs associated with offering them from their taxable income. This would help reduce the financial burden on employers and incentivize them to offer transportation benefits to their employees.
By allowing employers to deduct these transportation fringe benefits, the bill aims to promote alternative modes of transportation, reduce traffic congestion, and lower carbon emissions. This could have a positive impact on the environment and public health, as well as improve the overall quality of life for employees who rely on these transportation options.
Overall, Bill 119 HR 409 is a bipartisan effort to support sustainable transportation practices and provide tax incentives for employers to offer transportation fringe benefits to their employees.