Sunday, December 17, 2017

New Tax Bill Hurts Bicycle Commuting

The Tax Cuts and Jobs Act, H.R. 1, agreed to by a congressional conference committee on Friday and expected to be voted on by both houses of Congress during the week of December 18th, contains a large number of provisions that will affect individual taxpayers.  One item the bill would repeal through 2025 is the exclusion from gross income or wages of qualified bicycle commuting expenses.
Currently, an employer can provide up to $20/month tax-free benefit to bicycle commuters. That goes away under the law that looks likely to be passed by Republicans this coming week.  

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