Impacts of US Tax Problem

Just when almost everyone will get a tax deduction, a tax cuts to expire would force hundreds of thousands of workers to pay more for their daily expenses: round trip to work. Mass public transport users can save up to $ 1,000 per year under the federal tax cuts that will be deducted after 31 December. Unless Congress takes action, the savings they will cut almost in half. The blow was particularly painful because it will happen when the transportation costs go up in New York, Washington and other cities.

Tax cuts will work like a lot of health savings accounts. Workers can set aside up to 230 dollars per month to cover transportation costs. The money is not taxed, go to a separate account to pay for mass transportation. Starting next year, the account will be limited to 120 dollars per month. Congress temporarily raised the limit is as part of a stimulus package that passage in 2009.Some Democrats are still fighting to renew a higher limit. But the Senate rejected last week as part of broader legislation. Proponents say the higher limit to encourage commuters to choose mass transit instead of cars, reduce congestion, and pollution. Motorists foam use up to 230 dollars per month in pre-tax money for parking. Mass transit advocates say would only be fair to give users the same savings.

"If we're going to give tax cuts for parking, at least we should give the same discount to people who use public transportation," said Randy Rentschler, spokesman for the Metropolitan Transportation Commission in Oakland, California. By encouraging the use of mass transit, tax cuts that help offset the environmental damage caused by millions of motorists every day.

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One Response to “Impacts of US Tax Problem”

  • John Cole says:

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