Skip to Content
Streetsblog Los Angeles home
Log In
DC Streetsblog

Schumer Amendment: Make Transit Tax Benefit Equal to Parking Benefit

3:17 PM PST on February 6, 2012

The last piece of the Senate's two-year transportation reauthorization proposal will be marked up by the Finance Committee tomorrow at 3:00 p.m. The committee was tasked with finding approximately $12 billion to bridge the projected shortfall of the Highway Trust Fund over the life of the bill. So far, according to a summary released by Chairman Max Baucus (D-MT), they have found a little over $10.4 billion:

    • $3.7 billion transferred from the Leaking Underground Storage Tank Trust Fund, already funded by a slice of the federal gas tax
    • $2.8 billion from reducing a tax credit on certain biofuels
    • $2.5 billion from taxes on imported cars, redirected from the general fund to the HTF
    • $0.7 billion from the "gas guzzler tax," also redirected from the general fund
    • $0.7 in back taxes collected after revoking passports of serious offenders, assuming offenders would rather pay the feds than lose their passport

Furthermore, Sen. Charles Schumer (D-NY) has sponsored an amendment that would restore parity between the pre-tax commuter benefits for transit and parking. There had been parity between transit and parking pre-tax benefits since the Stimulus Act was passed in 2009, but the transit benefit was slashed in half -- from $230 a month to $125 -- when the measure expired on January 1st. Schumer's amendment would make the parity permanent.

Live updates will be available tomorrow on twitter (#TranspoMarkup).

Stay in touch

Sign up for our free newsletter

More from Streetsblog Los Angeles

Guest Opinion: Ten Years In, CA Active Transportation Program Lays Bare a Tale of Two Agencies

L.A. County needs to embrace physically-protected bikeways, robust traffic calming around schools, and similarly transformative, safety-focused projects

September 29, 2023

Eyes on the Station: Metro Fortified Turnstiles at MacArthur Park Station

Metro fortified turnstile entrances at MacArthur Park in order to curb fare-evading riders; sometimes this has adverse impacts on fare-paying riders

September 27, 2023
See all posts