BOSTON & WORCESTER, Mass.--(BUSINESS WIRE)--Yesterday, Congressman Jim McGovern (D-MA) rode from Worcester to Boston to highlight a permanent increase in the commuter tax benefit for mass transit riders that was included in a bipartisan multi-year tax package signed into law in December 2015.
Joining Congressman McGovern was MassDOT Secretary and CEO Stephanie Pollack, MBTA General Manager Frank DePaola, Association for Commuter Transportation (ACT) Executive Director David Straus, and Edenred COO Meltem Korkmazel as well as leaders from T4Mass, ABC TMA, Charles River TMA and MassCommute.
Without congressional action, the cost for those who use the transit benefit would have practically doubled in 2015, leaving families and commuters with up to $1,440 a year in additional tax burden.
“Thanks to the efforts of Representative McGovern, the cap on the transit benefit has increased to $255 per month. Now both parking and transit caps are equal. This increase will help transit riders save even more on their commutes each year,” said Meltem Korkmazel, Chief Operating Officer at Commuter Benefit Solutions.
Congressman McGovern has long championed commuter benefit parity, introducing legislation, playing a key role getting it included in the American Recovery and Reinvestment Act, and fighting to extend and make it permanent.
About Commuter Benefit Solutions by Edenred
Edenred Commuter Benefit Solutions is the nation’s only comprehensive commuter benefit solutions provider and number one resource for commuter savings. Since 1985, Edenred has served Fortune 100 and Fortune 500 companies, top third party benefit administrators and the nation’s largest metropolitan area transit authorities. With its premier solution offerings; Commuter Check, a nationwide commuter benefits program for employers; and WiredCommute, a private label program for third party administrators, Edenred is able to provide a one-stop total solution experience. Edenred’s mission is to make tax-free commuter benefits a staple in employee benefits packages nationwide.
Edenred, which invented the Ticket Restaurant® meal voucher and is the world leader in prepaid corporate services, designs and manages solutions that improve the efficiency of organizations and purchasing power to individuals.
By ensuring that allocated funds are used specifically as intended, these solutions enable companies to more effectively manage their:
- Employee benefits (Ticket Restaurant®, Ticket Alimentación, Ticket CESU, Childcare Vouchers, etc.)
- Expense management process (Ticket Car, Ticket Clean Way, Repom, etc.)
- Incentive and rewards programs (Ticket Compliments, Ticket Kadéos, etc.)
The Group also supports public institutions in managing their social programs.
Listed on the Euronext Paris stock exchange, Edenred operates in 42 countries, with more than 6,000 employees, nearly 660,000 companies and public sector clients, 1.4 million affiliated merchants and 41 million beneficiaries. In 2014, total issue volume amounted to €17.7 billion, of which almost 60% was generated in emerging markets.
Ticket Restaurant® and all other tradenames of Edenred products and services are registered trademarks of Edenred SA.