NEW YORK (CBSNewYork/AP) — Advocates are praising the New York City Council’s passage of a bill that would require businesses with 20 or more full-time employees to offer federal tax benefits for mass transit users.
The Wall Street Journal says the benefit lets participants use up to $130 a month of their pre-tax earnings to pay for transit costs. That amounts to a discount because it lowers their tax bill.READ MORE: Glass Bottle Attack In Chelsea Station Just The Latest Incident As Subway Crime Increases
Some businesses say it could result in administrative burdens and added costs. They want an awareness campaign without a mandate and potential civil violations.
A spokesman for Mayor Bill de Blasio has declined to say whether he’ll sign the bill.READ MORE: Racism Declared A Public Health Crisis In New York City
If it becomes law, the measure would take effect on Jan. 1, 2016.
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