For 2014, the monthly limit on the amount that may be excluded from an employee’s income for qualified parking benefits is $250 (a $5 increase from the 2013 limit of $245). The combined monthly limit for transit passes and van pooling expenses for 2014 is $130 (a $115 decrease from the 2013 limit). This is an environmentally unfriendly policy that discourages use of public transport in favor or more cars, especially in crowded urban areas like New York. I hereby petition the administration to permanently up the limit of transit passes to the same level as car parking benefits; thus benefiting users with a lower ecological footprint.
IRS publication (page 14): http://www.irs.gov/pub/irs-drop/rp-13-35.pdf?cm_mid=2878831&cm_crmid={1d70e029-7b01-e311-a3e6-ac162db4bc72}&cm_medium=email