After nearly two-years of advocacy from ACT and other organizations, we have had a major breakthrough to repeal the inclusion of the Unrelated Business Income Tax on transit benefits provided by exempt organizations, with repeal included in the year end tax extenders legislation.
The legislation still must pass through the House, possibly today, and then the Senate, possibly Thursday. It will then need to be signed by the President before the December 20th deadline. More news will be shared as we receive it.
Congratulations and many thanks to all of our members that have worked to repeal this piece of legislation. It is a great victory for ACT, our members, and millions of commuters across the country.