Full Speed Ahead for Permanent Parity
December 21 2015 - 5:32PM
Business Wire
Edenred applauds passage of tax legislation which creates
permanent parity between the parking and transit portion of the
transportation fringe benefit.
End of year tax and spending legislation passed by Congress and
signed into law by the President includes a provision that
establishes parity between the parking and transit portion of the
commuter tax benefit, ending a quarter century old policy that
incentivizes commuters to drive alone.
Edenred’s Chief Operating Officer, Meltem Korkmazel had the
following to say:
“This is such important legislation to the millions of transit
riders who have been impacted by the lack of parity. These are
commuters who have the longest and most expensive commutes and who
without parity, likely will be forced back into a car and add to
our already congested roads”, adding "The legislation passed
today will right this wrong and steer American commuters in the
right direction."
Transportation costs are the second largest household expense
for American families. Over the past several years, members of
Congress have been working together to bring permanent parity to
transit and parking pre-tax benefits. Permanent parity assists
commuters in creating changes to the way they commute, moving
toward increased ridership of subways, buses and vanpools and
significantly reducing the congestion on our roadways.
Without congressional action, the cost for those who used the
transit benefit were double that of those who drove to work,
leaving transit and vanpool riders with up to $1,440 a year in
additional tax burden. The legislation passed today rights this
wrong.
Korkmazel concluded, “I want to thank Senator Schumer (D-NY) and
the other champions, many of whom have been working on this issue
for years.”
About Commuter Benefit Solutions, by Edenred
Edenred Commuter Benefit Solutions is the nation’s only
comprehensive commuter benefit solutions provider and number one
resource for commuter savings. Since 1985, Edenred has served
Fortune 100 and Fortune 500 companies, top third party benefit
administrators and the nation’s largest metropolitan area transit
authorities. With its premier solution offerings; Commuter Check, a
nationwide commuter benefits program for employers; and
WiredCommute, a private label program for third party
administrators, Edenred is able to provide a one-stop total
solution experience. Edenred’s mission is to make tax-free commuter
benefits a staple in employee benefits packages nationwide.
About Edenred
Edenred, which invented the Ticket Restaurant® meal voucher and
is the world leader in prepaid corporate services, designs and
manages solutions that improve the efficiency of organizations and
purchasing power to individuals.
By ensuring that allocated funds are used specifically as
intended, these solutions enable companies to more effectively
manage their:
• Employee benefits (Ticket Restaurant®, Ticket Alimentación,
Ticket CESU, Childcare Vouchers, etc.)
• Expense management process (Ticket Car, Ticket Clean Way,
Repom, etc.)
• Incentive and rewards programs (Ticket Compliments, Ticket
Kadéos, etc.)
The Group also supports public institutions in managing their
social programs.
Listed on the Euronext Paris stock exchange, Edenred operates in
42 countries, with more than 6,000 employees, nearly 660,000
companies and public sector clients, 1.4 million affiliated
merchants and 41 million beneficiaries. In 2014, total issue volume
amounted to €17.7 billion, of which almost 60% was generated in
emerging markets.
Ticket Restaurant® and all other tradenames of Edenred products
and services are registered trademarks of Edenred SA.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151221006257/en/
Media RelationsKerrie LePage,
857-228-1422Kerrie.LePage@CommuterBenefits.comFollow Edenred on
Twitter: @Edenred
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