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Commuters Will Get Break with Pre-Tax

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Chicago-area transit riders will be able to save a little more money on their fares starting January 1. That’s when the government increases the amount of pre-tax dollars people can set-aside for transit.

The change could help riders pay for possible fare increases at Metra, Pace and CTA. The Regional Transportation Authority’s Phil Shayne says about 21-hundred companies in the Chicago-area take part in the transit benefit program. Employees at those companies can now reserve up to 110-dollars a month, pre-tax, for fares. Shayne says next year, that amount goes up to 115-dollars a month.

SHAYNE: So, this gives commuters an additional $60 a year to be able to apply toward their monthly transit expenses.

Shayne says people who participate in the program can save more than $400 a year in taxes. If transit fares do increase in the coming year, that’s money well saved.

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