New York City Lawmakers Consider Mass Transit Tax Break

Lawmakers are considering a tax break for mass transit users in New York City. The tax break would apply to LIRR, NJ Transit and New York City subway riders, according to Huffington Post.

Senator Charles Schumer said, In a time of rising gas prices, it just doesn't' make any sense to encourage people to drive rather than take mass transit. He estimates that New Yorkers collectively saved $200 million because of the current tax break, which is set at $125.

Schumer hopes to implement the new $240 tax benefit, raising the current break by $115. He would like to see the legislation take effect by Jan. 1, when the current tax break is set to expire.

Although the bill is considered popular by both Democrats and Republicans alike, the proposed legislation could likely face opposition from Republican House of Representatives.