Friday, December 26, 2014

Follow us:
Follow @NY1 on Twitter Follow NY1 News on Facebook Follow NY1 News on Google+ Subscribe to this news feed 


Schumer Proposes Tax Break for People Who Use Bike Share Programs to Get to Work

  • Text size: + -
TWC News: Schumer Proposes Tax Break for People Who Use Bike Share Programs to Get to Work
Play now

Time Warner Cable video customers:
Sign in with your TWC ID to access our video clips.

out of 10

Free Video Views Remaining

To get you to the stories you care about, we are offering everyone 10 video views per month.

Access to our video is always free for Time Warner Cable video customers who login with their TWC ID.

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

While Citi Bike deals with an uncertain financial future, Sen. Charles Schumer is pushing to keep more money in the pockets of New Yorkers who use the bike share program to commute.

Schumer is introducing an amendment to pending tax legislation that would provide a tax break for people who use bike share programs to get to work.

Riders would be allowed to deduct $20 a month from their income for tax purposes if they have an employer-provided bike share membership.

A similar program already covers mass transit, parking and other costs associated with commuting.

The senator said he is hoping this will spur employers to offer free annual Citi Bike memberships, currently worth $95 a year.

The Citi Bike program has been under increased scrutiny recently amid word that although popular with many regular users, the program is not bringing in enough revenue. ClientIP:, UserAgent: CCBot/2.0 ( Profile: TWCSAMLSP