Incentivizing Transit in Chicago

Given the soaring gas prices, Cook County, Illinois, is hoping to prod employers to offer transit benefits. Under the federally funded program, Chicago-area employers are eligible to receive up to $1,700 if they sign up to give their workers the option to pay transit fares using pretax income. Depending on tax brackets, this can lower the amount of taxable income by hundreds of dollars per year and also can reduce companies’ payroll taxes. The Chicago Tribune notes that Chicago-area transit riders save an average of nearly $12,000 annually over those that drive.

About these ads

Leave a comment

Filed under Public Transportation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s