Supporting Transit Commutes Act

Hozzl · 2024-09-12T06:53:16Z

Explore the details of House Bill 9464 Supporting Transit Commutes Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

9/12/2024, 6:53 AM

Congressional Summary of HR 9464

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.

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Current Status of Bill HR 9464

Bill HR 9464 is currently in the status of Bill Introduced since September 6, 2024. Bill HR 9464 was introduced during Congress 118 and was introduced to the House on September 6, 2024. Bill HR 9464's most recent activity was Referred to the House Committee on Ways and Means. as of September 6, 2024

Bipartisan Support of Bill HR 9464

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Policy Area and Potential Impact of Bill HR 9464

Primary Policy Focus

Alternate Title(s) of Bill HR 9464

Supporting Transit Commutes ActSupporting Transit Commutes ActTo amend the Internal Revenue Code of 1986 to allow employers to deduct certain transportation fringe benefits.

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