Skip to Content
Streetsblog USA home
Streetsblog USA home
Log In
Charles Schumer

Schumer Amendment: Make Transit Tax Benefit Equal to Parking Benefit

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:

Sen. Schumer had made restoring the pre-tax commuter transit benefit a priority in 2012. Photo: ##http://www.politico.com/news/stories/1011/65590.html##AP##
    • $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 USA

Friday Video: A Deep Dive on the Endless Debate Over Bike Helmets

Everything you need to know the next time someone asks you if you're "for or against" bike helmets.

May 16, 2025

Disrupting Thursday’s Headlines

Elevator pitch: Buses, but they only seat six people, and you have to book one ahead of time.

May 16, 2025

Talking Headways Podcast: Running to Work

Bridge engineer Daniel Baxter on his almost daily running commute in Minneapolis.

May 15, 2025

Thursday’s Headlines Want Five-Minute Cities, Maybe?

A 15 minute city doesn't mean people never drive short distances, a new poll finds — but it does mean residents at least have the *option* to walk instead, and that can carry enormous benefits.

May 15, 2025
See all posts