Tax breaks used by more than two million subway, light rail and bus riders across the country will be slashed come Sunday and some New Jersey Transit commuters, including those who use the Towaco Train Station, could feel the pinch.
The change could mean some transit commuters will pay $400 more on transportation costs over 2012, according to The Star-Ledger.
In 2011, both drivers and mass transit riders received a $230 monthly exception. Starting Jan. 1, the drivers' tax break will increase to $240 due to a cost-of-living increase, while transit riders will have their pretax money for commuting expenses cut to $125, according to a Huffington Post report.
Congress had been working to keep the federal transit tax exception equal with the one drivers can use on parking, but didn't act as members were consumed by a battle over the payroll tax.
Sens. Frank Lautenberg and Robert Menendez are sponsoring a bill to restore the commuter benefit, The Star-Ledger said.