We’ve received many questions about the new benefit for bicycle commuters that Congress included in the financial industry bailout bill. The bottom line is that bicycle commuters nationwide are now eligible to receive up to $20 per month for commuting expenses, either as a cash reimbursement or a pre-tax deduction, and their employers can obtain a tax benefit for participating in the program. The League of American Bicyclists has provided guidance on exactly what this means for you and your employer.
MassBike member Bill Schwab, an Employee Benefits professional, has generously offered to assist Massachusetts bicyclists to explain the new benefit to their employers and formalize the plan (free-of-charge!). If interested, contact Bill directly:
William H. Schwab, CLU
Mount Vernon Insurance Agency, Inc.
50 Cross Street
Winchester , MA 01890