Got an Email from my companies Comptroller:
"The current transit benefit allowed for up to $ 230.00 per month to be deducted from your pay on a pretax basis. The legislation that allowed for this limit is set to expire at the end of this year. Congress has yet to extend this benefit limit. Therefore, effective January 1, 2012 the monthly transit benefit will be reduced to $ 125.00."
My ticket was $116, and tax free.... Now with Metras 30% fare increase means my new ticket is $149.50.
Which means I have to pay 24.50 of it out of pocket, and get taxed on (on top of the $125 being pulled from my paycheck every month)
So now the Metra increase has gone from being inevitable, to being full-on obnoxious AND inconvenient....
Panda, I'm on your boat now.
"The current transit benefit allowed for up to $ 230.00 per month to be deducted from your pay on a pretax basis. The legislation that allowed for this limit is set to expire at the end of this year. Congress has yet to extend this benefit limit. Therefore, effective January 1, 2012 the monthly transit benefit will be reduced to $ 125.00."
My ticket was $116, and tax free.... Now with Metras 30% fare increase means my new ticket is $149.50.
Which means I have to pay 24.50 of it out of pocket, and get taxed on (on top of the $125 being pulled from my paycheck every month)
So now the Metra increase has gone from being inevitable, to being full-on obnoxious AND inconvenient....
Panda, I'm on your boat now.