NJ Pols: Renewal Of Rail Commuter Tax Benefit Is 'Baloney'
PATERSON, N.J. (CBSNewYork) -- A New Jersey senator and congressman took a partisan swipe Thursday over a recently passed tax break they say is nearly worthless.
As WCBS 880's Levon Putney reported, Congress approved a package of tax breaks before its winter recess, including restoring a $250-a-month pre-tax benefit for rail commuters -- the same amount given to those who drive.
When that tax break expired on Dec. 31, 2013, rail commuters were only eligible for a $130-a-month tax break. The renewal, however, is set to expire at the end of this year.
NJ Pols: Extension Of Rail Commuter Tax Benefit Is 'Baloney'
"Actually the tax bill lasts for two weeks because we already finished the year," said Rep. Bill Pascrell, a Democrat. "It is full baloney."
"Unfortunately, we could not get the Republicans to agree to a two-year bill," said Sen. Bob Menendez, also a Democrat. "This is a perfect example of why short-term tax bills at the end of a calendar year make no sense."
The lawmakers said they are trying to get the IRS to allow the tax credit to be applied retroactively.
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