Today is Tax Day and the RTA is reminding riders about a tax benefit program that is good news for both employers and employees: the RTA Transit Benefit Fare Program. This program is a pre-tax benefit program that allows employees to pay for transit fare using pre-tax dollars. It can be used by employees commuting on CTA, Metra, Pace, South Shore, Amtrak, and Chicago Water Taxi across the Chicagoland region.
If you’re looking for a way to save on your commuting costs, consider participating in the RTA Transit Benefit Fare Program. Offering transit benefits is a win-win for both employees and employers. Riders pay less for riding transit and employers have an additional tool to help them recruit and retain talent and help their bottom line.
Riders can save as much as 40 percent every month when they set aside up to $265 as a pre-tax benefit to commute on public transit across the region. Transit benefit programs save employers an average of 7.65% of the pre-tax deductions on their payroll taxes. The RTA encourages riders whose employers do not participate in such a plan to share this information with them so they can enroll.
This year, Tax Day coincides with our www.GetonBoardIL.org campaign. In northeast Illinois, the regional transit system now has $30 billion of unmet high-priority projects, and more than a decade has passed since the State of Illinois last funded a capital bill. The RTA’s Regional Transit Strategic Plan, Invest in Transit, sets clear priorities for public transportation across Chicago and the region, calling for annual investment of $2 to $3 billion over the next decade.