Tax deal extends tax break for transit commuters

A provision tucked into the federal tax cut bill making its way through Legislature could allow many New Jersey Transit bus and train riders to

EDISON - A provision tucked into the federal tax cut bill making its way through Legislature could allow many New Jersey Transit bus and train riders to save hundreds of dollars a year on their commuting costs.

The tax break works like many health savings accounts. Workers can set aside up to $230 a month to cover transit costs. The money isn't taxed. It goes into a separate account to pay for mass transit costs.

Without the provision, the benefit would be cut nearly in half as of Jan. 1 if the higher figure is not reauthorized.

AP wire services contributed to this report.

advertisement | advertise on News 12

Trending Video

Police in Asbury Park calling for cease fire 1 Police in Asbury Park call for cease-fire after shootings
Police worked with the prosecutor's office to conduct 2 Father speaks out against Asbury Park crime
VIDEO: 4 charged with selling heroin in Newburgh 3 VIDEO: 4 charged with selling heroin in Newburgh
News 12 took to the streets to find 4 Word on the Street: Time travel
Friday Night Football - Championships 5 Friday Night Football: Championships

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE