Commuting programs take bite out of gas prices
Firms say demand for mass transit reimbursement, shuttle busses, car pools and bike racks, mirrors fuel costs.
By Steve Hargreaves, CNNMoney.com staff writer
June 6, 2006: 10:57 AM EDT
NEW YORK (CNNMoney.com) - With gas prices over $3 a gallon in many parts of the country, companies and transit benefit providers alike say there's a boom in interest for any program that can help take the bite out of filling the tank.
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One of the more novel is a business concept by a young female entrepreneur, still in the development stage but under consideration by Intel, that would provide luxury shuttle service from San Francisco to the company's operation in Santa Clara about an hour to the south.
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But Hess (of Sun Microsystem) said one critical component in enticing employees to use mass transit is assuring them that if need be, they can leave in a hurry. To that end, Sun provides free taxi service to participants at any time should they need to leave in an emergency.
Another way companies benefit is through tax write offs. Programs like flexible spending accounts, which allow employees to set aside pre-tax dollars for transportation, have the effect of reducing a firm's payroll tax, said Nathalie VanHeusden of TransitCenter, which administers benefits for 11,000 organizations and 500,000 people nationwide. Sun has also calculated the environmental benefit. Hess said the programs have saved 40,000 metric tons of carbon dioxide from entering the air, or what the EPA says is the equivalent of the annual emissions from 27,000 cars.
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Find this article at:
http://money.cnn.com/2006/06/05/news/economy/transit_benefits/index.htm?source=yahoo_quote 
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