FAIRFIELD COUNTY, Conn. -- Commuters in Fairfield County and across the nation will lose a big federal tax break at the beginning of the new year, according to Forbes.
The pre-tax transit benefit for transit riders will drop to $130 a month and parking tax breaks will be cut to $250 per month. The change will cost a commuter who spends more than $250 a month $576 every year in tax savings, Forbes reported.
About 2.7 million families in the metropolitan New York area benefit from the tax break. There's hope it may be renewed by Congress, according to Forbes.com.